When my CPU runs load or anything close to 50% my 12v drops from 11.920 to 11.630-11.730 ish. Is that bad? it will go up and down the more or less the CPU is used.
the CPU on modern mobos is powered off the +12V from the power supply (stepped down of course by the onboard VRM voltage reglation modual) older boards employed the +5V and so older PSUs are strong on the +5V and +3.3V rails (which are typically combined rails), so if you have an older supply, and your powering a newer mobo, it may not have enough Amps on the +12V rail for everything, in the last 2 formfactor spec upgrades for power supplies the +12V line has nearly doubled
where a 400watt "typically" used to have 15A
now they have closer to 22 > 34A
(actually they have dual +12V rails in the V1.3 and V2.0 spec)
so...your rails dropping could be because there is too much draw on that rail