+12V Reading

I'm currently troubleshooting my system because I've been having performance issues in some 3D applications. One thing I noticed in the process of doing so is my +12V reading.

 

I'm using HWMonitor to check my voltages, and my +12V reading is coming out between 1.4 and 3.1

 

Is this potentially a reason for some of my problems I've encountered? (Lowered framerates in some 3D applications). Everything I've found says it should be very close to 12 which it certainly is nowhere near.

 

Another thing is, I have 2 rigs built with the exact same components, and they are both getting this same reading.

 

I still am planning on picking up a multimeter and checking the actual voltage going into various components, but if when doing that, I get the same readings, what should I do next? I'd be a little surprised if the PSU is faulty because both computers are getting the same problem. If the PSU just isn't enough to handle my system, then I'll need advice on what I need to ensure the next one does handle my system just fine.

One thing I just came across, is when I run a stability test using PC Wizard to max my CPU out at 100%, the +12v rating shows as ~3.5, and when I stop the test, the reading drops right back down to the 1.4 it was at before.