I've checked three PSUs now - the Corsair CX430, the Powercool 450W modular one (not a cheap one), and a little Atlas 350W one from my Peg-II. All of them run low, and there's large ripple on the 5V line and, I believe, on the -12V line. The voltage isn't constant, it tends to bounce around a lot on the -12V line especially. On the +5V line there's a large ripple and the voltage slowly decreases. It was at 4.58V at one point.
I'm measuring on the end of one of the caps (C188, by the SIMM sockets) and on one of the ICs.
Edit: the +5V wire on the ATX adaptor was getting hot before, as the AmigaKit adaptor only has one wire for the +5V and I think it was too much when loaded with the CSPPC etc.. I therefore soldered one of the other +5V wires from the ATX socket on the adaptor directly to the +5V pin on the underside of the socket, so I know it's a good connection.