A correctly mounted bottom PSU will draw in air from beneath the case, and that is why it will run cooler than a top-mount PSU, which draws in hot air from inside the case.
Personally I prefer top-mounted, as this gives the advantages of having a case with a top-mounted fan as well as a rear-mounted fan (and both is better than just one) without the issue of having vents in the top of the case, which is bad for noise, dust, spilt drinks and stacked paperwork. Most PSUs are fine dealing with this, and it also saves having a bottom-mounted dust filter.