Can you guys go into your bios and check under PC Health Status and post what your 12v rail is fluctuating around? Post what type of processor you are running as well (Via, P4, Athlon XP, etc.)

Mine:
CPU: Pentium M
12V Rail: ~11.35v

Even if you know very little about computers, you have probably seen power supply makers stress the size of their 12v rail. This is the main rail that most of your power is drawn from and the M2-ATX advertises high amps for it.

+/- 5% over/under 12 volts are generally where things start to get loose and you run into power issues. Mine is at around ~11.35v on a ~110w system, which is not good. I had a similarly powered P3 system before on an M1-ATX and rails were around 11.8v, so I am wondering if is some other problem, like my homebrew P4 12V adapter.