need help in deciding if power supply has gone bad

i have an antec true blue power supply to power my computer.
i have an amd 2700 processor, ati aiw 9800pro and an asus a7n8x motherboard. I started having problems with my graphics a short while ago, when i tried to run wolfenstein. Then a short while after that my graphics would not display properly at boot up and thats when i underclocked my cpu and changed my graphics card settings from quality to performance. I tried out some games like serious sam thinking it could handle it and it did as long as the settings in the game were set to low quality.

I checked the voltage levels for the 3.3v, 5v, and 12v and my 5v & 12v fall 5%-8% below.

Could this possibly be the problem or is it with my graphics card?

as far as i can tell the mobo is just fine.

at first i thought the problem might have had to do with the drivers.

if i have my cpu run an normal speed then i'll just have a bunch of fuzzy lines coming down my screen at boot up just like when i try to play games that require some effort from my graphics card.

It's not likely, but your OS may need some fine tuning. But definitely substitute the card, as everyone suggested. Check for any grounding issues. Is the graphics cable snug? Has it been damaged? In other words, is the cable properly shielded? If it isn't, this can lead to ground problems. And removing as many devices off the same line certainly doesn't hurt (i.e., gaming console, TV, DVD player), for you suspect the power supply may be faulty. Is there any reason to suspect physical damage of the mobo itself? That is, what have you done before and since this problem ocurred such that the mobo would be more than likely suspect?