I think I know the answer to this question already, but... in checking out my new build, I just saw my 12V rail go from 12.9V to 14.78V. Actually it was at 14.9V the first time I saw this and then the M/B shut off by itself.
System is almost finished with everything except the hard drive- basically the ASUS M4A89GTD PRO/USB3 AM3 motherboard, CPU cooler and 3 chassis fans, one on each fan header.
P/S was at 12.57V when new. I checked a car battery I keep lying around, fully charged it a couple weeks ago, it came it at 13.47V which is close to the 13.8V I expect from a car battery, so I still trust my meter.
Unless someone can justify this, I really think I have to start an RMA with Corsair... at least I got my rebate already.
-HF