a fan on the bottom side on the psu? i don't get it. you cut a hole in your case side? or in the psu side? if its in the case it might help a bit, if its in the psu, not that much.
i see its an old case. but even old cases can be easily moded to be cooling monsters

buy/get a dremil, and slice that aweful fangrill off the back. those tiny holes are pitiful and kill any airflow your fan produces. i did that with my ghetto old case. the front bottom mount is probably one of those next to useless mounts. tiny holes i'm guessin, with it trying to breath through a slit in the bottom of the plastic bezel. thats a slice and dice candidate too. many fan hole/blow hole tutorials out there on the web, just use google.
here are some pics of my old case that got updated to meet the needs of current cpus
http://fox302.com/index.pl?s=vg&user=oroooroo&category=Case
it too had the aweful useless front mount case fan. it also has the tiny 60mm fan mount in the top back witht iny holes. but two of em. i taped em over since i don't use em anymore. i did however cut the fan grills off, so i could put 2 60mm in there if i felt like it.
what i did was cut 3 holes in the side panel, 1 in the front and one on top. 3 of the fans are stealth vantecs, two of those being 92mm, rest of case fans are 80mm, pretty quiet to begin with. rest are cheapo fans from svc. and all are hooked to the fan controller so i can have em hum along very quietly unless its a wretchedly hot summer day. i later added the 3rd side case fan and swapped the top fan for a blue led fan when i added the ghetto intake filters.
top case fan is external because theres not quite enough space to mount it inside, the space under it is large as the fane blades, but not as large as the fan

it works so i don't care, esp iwththe new lighted one.
a fun link
http://www.ashline.net/computer/cablefolding/ide_cable_folding.htm probably more for vanity then much function in your very empty case
