Chieftec 1200W 12v rails?

Hey peeps,
I have a 2 year 6 month old Chieftec Super Series 1200W PSU which is giving me some trouble with its 12v rails.
In BIOS I'm getting 11,368v, in Everest and HWMonitor I'm getting 11,59v with fluctuations down to 11,54 at idle.
BUT: When I power on some game which sucks juice from the GPU (HD6950 unlocked to 6970) it drops right down to 11,20v. With OCCT Linpack, it drops to 10,8 in like 5 seconds at which point I instinctively shut the test off in fear of the machine going Boom or something.

The PSU suffered a fault in the fan controller and I had a technician fix it. He said he got 12v stable out of it with his test computer (with a power draw of 300W max) last week. So why am I getting these low volts on mine? The fans work perfectly now, by the way.
Might this be dangerous to the PC?

By the way, thinking that only one 12v rail is underpowered (dunno how this stuff really works tho), I swapped the PCI-e cable's location in the PSU's holes (it's modular) - no change whatsoever. Tried a total of 4 combinations to no avail. Still sitting at 11,368v in BIOS. SO tried removing 2 of the 3 fans in the case and still the same story. (2x6pin PCI-e holes on the GPU).

HELP please! What could I try next, or is this even such a big problem?
If I had a multimeter, I'd try testing the rails mechanically as software might be off with the measurements, but I don't have one. The technician said both his BIOS and multimeter showed 12v more or less.
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  1. If you don't have a digital volt-meter/multi-meter maybe it's time to go out and buy one and confirm the voltages.

    If those are your real voltages your PSU is running out of spec.

    The +12VDC rail should only have a ±5% voltage range (i.e. Min. +11.40 Volts, Max. +12.60 Volts).

    If your PSU's +12V rail really does drop down to +10.8 Volts it's time to replace it with something reliable.

    The Chieftec CFT-1200G-DF's 1-Year warranty speaks volumes about its reliability and quality.
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