That whole design looks the business! The local of the PSU shouldn't really be too much of a problem as long as you take into account 2 things. 1) The wall socket cable that plugs into the bottom of the case in your design. 2) The fans wouldnt be obstructed in the case. As long as the bottom has enough room to route a thick power cable, and enough distance from the floor to get good exhale from the PSU, then it should work fine.
Plus, repaint it like it was to begin with but minus the fact the paint was lead, that paintjob would have been sick for a military design!