I am very much aware of the dangers of blindly trusting manufacturer specs, which is part of the reason I asked what PSU he had. What I was referring to in my previous post was attempting to directly measure a PSUs current output by hooking a multimeter in ammeter mode up to it. This will not work, and is in fact very dangerous to the supply.
It's true that excessive loading will often cause voltage drops on the PSU, but do realize that this is not a symptom that is guaranteed to manifest itself. Supplies loaded beyond their maximum capabilities may fail over the long term, particularly as the capacitors age. They may also blow without significant voltage drops.
Certainly voltage readings are helpful, and if they drop too low it's time to replace the PSU, but a reading that's within spec doesn't guarantee anything.