Hi,
The whole PSU orientation thing is fairly subjective - I know Tom likes to see the fan of the PSU in his build, which is fine if it's your preference.
Personally I've always had my fans facing up (with PSU at bottom) mainly because none of my cases had a floor grill - until now.
My CM 690 II Lite has a floor grill and is designed so the PSU can take in cool air from below. In my particular situation it would be daft to have the fan facing up as that would take some
very warm air from my pair of GTX 570s, so not an option in my view. Also, I don't think a PSU really adds much to the air-flow if it is extracting internal air - at least not compared to a proper 120mm fan.
However, these floor vents really do attract an awful lot of dust, quite shockingly so. Now my PC is floor standing but it's on a large piece of clear perspex so it's not directly on the carpet. Despite this the filter was quite dusty when I cleaned it the other day. A desk standing PC might not attract so much dust, but I've never stood a PC on my desk so I don't know. Of course, all you have to do is clean it every few weeks, no big deal really.
So, I guess PSU orientation really depends on the build as a whole, what particular look your prefer and/or what's right in regards air-flow. I've not run any scientific tests with a PSU sucking hot air vs. the same PSU getting a cold air feed, maybe it makes bugger all difference to anything overall
Cheers,
Scoob.