m getting 12.5V on the 12V rail, according to BIOS (13.9 according to PC Wizard). Ive been told 12.5 is still dangerously high (assuming that its correct). Is it?
Keep the hardware plugged in to get an average condition reading. Using a free molex put the positive probe on a yellow wire and the negative on a black for 12v reading.
Also after getting an idle reading might wanna fire up some Prime95 or something similar to put a load on your PSU and get a reading for that.
That's slightly high on 12v, but the big thing is are your load voltages jumping all over the place under stressful conditions? If they are I'd throw the psu out in a heartbeat. Stable voltage is very important.