I am sure that the voltage will drop because of resistant in the "longggggg" wires.
I don't think or saw anyone do that yet.
Why don't you try it out, it may work. Just go to computer store that has easy return policy like Fry's electronic or circuit city and buy several of those 1ft ATX extension and connect together and try. If it doesn't work, you can return it without wasting lots of time soldering.