if the normal components are drawing 300W, it will put out about 400W of heat, as the psu is usually 60-80% efficient. if the whole system is drawing 300W, it is putting out the same amount of heat as a 300W heater. so yet, a computer = a heater. but than again, so does a lightbulb, a tv, a stereo... even an air conditioner or a fridge!