ORIGINAL: hands without shadows
Unless you read the design guide update carefully that method doesnt work because it doesnt refer to any sense wires besides the 3.3v sense wire (brown or light orange).
Did you read the last paragraph in the [link=http://web2.murraystate.edu/andy.batts/ps/DESIGN_GUIDE.HTM]design guide update[/link]? I suppose the assumption was that you would read the section on remote sensing carefully -- it does reference sensing on the +5v and +12v rail. I have also seen one supply with a sense wire on ground.
I've converted around 80 or so supplies and run latch and voltage level tests on well over 200. There is a lot of variation across models - some supplies will latch and hold without a preload; some will not. A few will run without reconnecting the sense wires; the majority will not. Stability under load varies considerably -- Antec and Sparkle have performed well. To cover all the bases in the conversion process places some burden on the reader to be equally diligent.
If there is mis-information in the conversion, I would appreciate knowing.
andrew