This is yet another reason why I don't trust old PSUs as far as my 1-year-old could throw them.
I recently tested a nice stack of around 10 older ATX PSUs including some that came from OEM systems.
Out of those, there were multiple that the voltages were waaaay off. A few were even completely missing certain voltage rails (not -5v... duh) and one or two would blink on/off certain voltage rails.
From that stack, I ended up keeping I think 2 that actually had correct voltages. One was even spot on on every single voltage. It was a Thermaltake which really surprised me as I have not really had good luck with them in the past.
I will only use newer PSUs that are at least really rated 80+ Bronze and are from a reputable mfg such as Seasonic unless I am using a case that only supports a weird form factor PSU. I've even though about swapping the internals of those types of PSUs with good internals.
Back in the day I worked at a computer store.. this was around the year 2000. I purchased one of the higher priced and higher power PSUs we were selling at the time. First time I powered it up, it shot flames out the back of it.
The cheaper ones were crappy brands such as Deer which weighed almost nothing.
The uATX PSUs of the time that were used in such systems as eMachines we sold butt-loads of replacement PSUs for. I forget the brand we sold, but it was a higher end brand.
Been working with this stuff for over 30 years now (started when I was 12). The newer PSUs are infinitely better than almost all the older PSUs and much safer to use as well. Normally you don't have to worry about a PSU taking out multiple items inside your case if it blows. Not so with those older PSUs.
Plus you have how many year old capacitors and other components in those ancient PSUs? The capacitors should pretty much all be replaced at the very least. If I have a PSU open, I also check for cracked solder joints and anything else that doesn't look right. I don't really do that much anymore unless it is a really nice PSU that I definitely want to use. Mostly IU will just salvage the fans from them and then scrap the rest.
Not worth my time or money to gamble with this old stuff that may or may not work long term and if it does die, has a decent chance to take out components with it.
Plus the newer PSUs are way more efficient (60-70% for older PSUs and around 80-90+ % for newer PSUs) and have way cleaner power output which will also help the rest of the components last longer and run cooler.