Phew, just read that it was 12.2v. If it was 12.75, you should unplug it and RMA is and start bashing the company. I called Corsair tech dep. and they told me atx standards was 5%, anything further and I believe they would RMA it. Up to you to RMA it or not, you have the choice since that's what BIOS tells you
I wouldn't say that's necessarily true. GPU-Z tells me my 4870x2's is running at 2,429,041,000,000 Hz. Yes, that's 2.43 terahertz. Do I have the ability to RMA it, as this is way out of spec? Absolutely not (yes, this is an extreme example). IMHO, you should always check a PSU with a multimeter if you suspect it of being out of spec, rather than just trusting BIOS/software. For example, Everest tells me that both my 5V and 12V (Corsair HX1000W) are out of spec, at 5.43 and 12.83V respectively. However, when properly measured, they measure in at 5.05 and 12.11V, well within spec. It's such a common occurrence that to RMA based on the sensor readings alone would be rather stupid.