this is the first time i have built a computer and the last thing I want to make sure of is which side the components with in the psu should be facing.
It depends. Is it top or bottom mounted? Do you have an exhaust vent on the top/bottom of the case? I have mine bottom-mounted with the fan exposed to the inside of the computer, notwithstanding the fact that I have an intake/exhaust vent on the bottom of my case. It worked better for getting cables to various components, but I should probably change that around sometime.
On the bottom, fan face down, althoug some people who have XF or SLI video cards, have them with fan face up to help exhaust heat from the second video card.