If you are using Cool N Quiet, isn't your voltage supposed to fluctuate according to the workload?
Try running just in the BIOS and see if it fluctuates.
If you're not, then yeahhhhh might wanna get a new PSU before everything melts.
Gosh, in my experience I typically have stuck w/ Antec - a little more expensive, but worth it for the quality. Enermax's are ok, thermaltake's are ok. I'm sure alot of guys out here can recommend other good brands. For $100, you can get a nice one, depending on what wattage you need.
You can get an Antec 550 Truepower http://www.newegg.com/Product/Product.asp?Item=N82E1681...
ive got a 400watt thermaltake psu that came with my case and it has run stable for me so far... voltages are a lil off but its been stable my conclusion was its misreads because 12 rails are around 5v according to speedfan, but anyways, go with a thermaltake im sure u can find a 500 watt for less than 100 bux
I use a Fortron Epsilon 600W for my rig and my voltages most of the time dont fluctuate at all . However on my previous Antec Truepower 550 they were sporadic but with in tolerances. Fluctuations are bound to happen, just keep an eye on them. Read the THG PSU Stress test and it will explain all the ATX requirements. In there they do explain the allowable fluctuations according to the standard, but also note how many PSU's failed the test bc of the fluctuations. So, in reality, they are not that uncommon at all but they also dont make for a safe enviorment either
Last week I bought a refurbished AsRock 939DualSATA2 from newegg. The Vcore fluctuated about .04v, and I have sent it back. I know it is not the PSU as I have another DualSATA2 on it now--solid. It's a bad regulator circut on the motherboard.