in a cheap "A-Power_ 400 watt supply, i was running my asrock mobo, s754 2800, 512 megs of pc3200, an FX5500, soundblaster audigy, and 5 hard drives, and the thing got hot enough to melt solder and a diode came out of place. the diode would intermittently contact, making the voltages fluctuate like crazy. that is pretty damned hot in my opinion, being able to melt solder.
to replace it i bought a sparkle fsp 550-60 PLG, which doesnt seem to get warm at all, running the same load and an insane load on the 12V rail (rockford 800a4 amp) and it keeps running fine. the sparkle will run the amp pretty damn loud, while if i try runnin it on just the apower, ikt shuts off soon as it hits. the more expensive ones can deliver beyond their rated limitations, as the manufacturers rate them way under what they're capable of, just so that when you run it at its rated limit it wont have a problem.
cheapies will rate them at the PSU running balls to the wall, with unrealisticly cool ambient air, and test each rail independantly, so they can get the most out of it.
then the general construction, the metal itself of the casing is much thicker and sturdier than the cheapies, thus it being so much heavier. the fans are more powerful, with better bearings and such, so they'll last longer. better heatsinks, cool better... basically everything about them are higher quality components.