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Power Readings UNDERATED?

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Aug 1, 2003
E600000 - E60000FF
I have a cheapo PSU running my stuff right now and when i first used it (before extreme OC) I was get'n good readings on all rails.. WELL know i have been get'n funny readings mainly out of my 3.3V it always shows around 3.21-3.19 on Monitor Software.. So i got the Multimeter out and put it on the back of the mobo where the ATX connector hooks up and to my suprise .. A unwielding 3.3 Volts steady even under load.?? now, i know i should probably trust the Multi reading more than the software.. but, could anyone tell me why this might be?