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With lower voltage, the load will pull more current. At $16 to $18 per psu, it's worth experimenting with them. The site that I read said 13.3 to 13.5 volts capable without tripping to over voltage protection. Worth a shot. If it works, I'll share it. If it fails I'll update.
Depends on the unit. There is no universal constant with Server Supplies. They are all over the place in terms of what each model can or can not do. I have read posts by guys that buy these by the pallet and some guys will only get 11.9V and some can get 13.3 out of identical units with identical mod's!
Simply put, its cheaper to distribute power at a higher voltage than a lower voltage. Power loss in wiring is directly related to the Square of current drawn. So if you distribute power at 12V instead of 5V you cut your resistive power losses in a wire by a factor of more than 5x. [122 / 52 = 5.76]
In addition, most chips these days use significantly less than 5V to run, with typical Intel/AMD processors having internal core voltages of 0.6V - 1.4V in many situations. Other peripherals may need 5V, 3.3V, 2.5V, 1.8V or whatever so the actual distribution rail is rarely ever related to the voltage being used by peripherals. Even typical USB devices don't actually use their 5V rail directly and will drop that 5V from the USB cable to something usable by the actual peripheral.
You can couple that with the ease of adding inexpensive local Buck switching converters near all the peripherals. These allow your to convert high voltages to low voltages locally at the devices while also being very efficient (90% +).
If you look near the processor on a motherboard nowadays, you should be able to pick out several inductors. They are part of a polyphase buck converter that's used to drop the voltage down to the level that the core logic needs. The same is true of the graphics processor on the graphics card.
This is why the 12V regulation is all over the place from one model of power supply to the next. Even the 3.3 and 5 volt buses are over kill. With just things like the DVD/BD drives and hard drives running off of 12V it is not that important to the computer to have more 12V+ and insanely tight regulation. A computer has a lot of wiggle room on the 12V side. That is why it is completely fine for so many of these supplies to be a tad anemic on the 12V side.
I would suggest that for a computer low ripple clean power that does not fluctuate much is far more important than being able to get a few more volts out. The things powered by 12V nominal in a computer do not really benefit from cranking up the voltage from say 11.9V to 13.8V. So it is not something that is really needed in a computer supply. On the other hand when powering so called 12V devices in many hobbies having 12V-16V can be a huge plus since our radio's and amplifiers like more volts!