@amiga4001:
It sounds like the air-intakes at the bottom of the front of your tower are way too small if the PSU gets much colder when the 5 1/4 plate is removed.
If those intakes are too small, it doesnt matter how powerful the psu fan is, air movement through the case will still be very limited. Also, if you just remove a 5 1/4 plate, the air will most likely take a shortcut and not flow over the motherboard/CSPPC and the only thing which will be more cooled is the psu.
With most tower cases there is usually a big hole in the plastic front underneath the bottom of it, which feeds air to the intakes in the metal part of the front, so if you put your computer on a soft carpet or remove its feet, that intake will be severely obstructed.
You should also make sure that the cables in the tower arent a mess, blocking the airflow.
/Patrik