PSU is most likely going to be the hottest part in the computer, so I'd be having it blowing air out the back of the case.
Either way will probably be ok, but as its also the highest vent in the case, having it blowing IN, isn't going to work so well when convection comes into play.
In my towered A4000PPC I have 4 fans:
1 in the PSU (blowing the hot air out)
1 on the PPC CPU
1 on the Voodoo4 GPU
1 mounted at the back of the tower casing - sucking air in through a dust filter and blowing it onto the two cpus on the CSPPC through a selfmade cardbox sort of tube thing.
This has the advantage that there is no depression inside the tower and so no air is sucked in through all the small gaps like between the CD drives/DVD drives/tape streamer/floppy disk drives and through all the small gaps among the slot brackets on the backside. In all these small gaps dust sedimented and even in the gaps of the (closed) CD/DVD drive tray drawers (and inside the drives as well, of course) or USB slots.
Since I have it this way I could cancel the regular, painstaking cleaning of all the gaps and the innards of the drives - I just have to renew the dust filter on the casing fan from time to time...