Well, they test the efficiency at near 100% load, so you at least know that it doesn't explode at its rated power so in my eyes that weeds out a lot of the bottom-of-the-crap-barrel psu's
Also if you check the actual testing document, they will show you the voltages and current drawn at each load:
http://www.plugloadsolutions.com/psu_reports/FSP TECHNOLOGY_FSP400-60EGN_ECOS 2223_400W_Report.pdf
There's the report for FSP Groups 400 W Gold PSU. The voltages seem fine to me at 398W draw
Noise and ripple aren't shown but at least it gives you a fairly good rough idea of the quality of the PSU
Also, if you read through their testing protocol (
http://efficientpowersupplies.epri....er_Supply_Efficiency_Test_Protocol_R6.5.pdf):
"Prior to power measurements, the UUT shall be allowed to operate at each load point for at least
15 minutes in order to allow the power supply to reach a steady state of operation. A steady state
of operation has been reached if the total input power reading over two consecutive five-minute
intervals does not change by more than ± 1%"
The PSU is subjected to the full load for at least 15 minutes
Lastly, FSP Group publishes the Ripple & Noise thresholds (along with detailed drawings, and other information) for their PSUs on their website:
http://www.fspgroupusa.com/fsp40060egn/p/848.html
I don't know how to interpret those values as to whether they are acceptable but if anyone more knowledgeable than me would like to chime in I'm sure that could help the OP
IMO an 80plus rating of any sort is a good indicator of the PSUs quality. The PSUs I think everyone is afraid of are the ones that can't handle sustained full load (at least without a large voltage drop).