for god sake who here has ever looked at a chemistry text book everyone seems to assume that all liquids conduct electricity. no putting the psu in will not cook it. if the board hasn't been fried already then no the psu won't be. the only thing you haqve to be really careful of is contaminants because contaminants within the oil may conduct electricity. i can't remember the link but there is a guy who's had his pc running for about 5 years in oil. kudos for the project.