The way I see it is that if the 5v & 12v spec on most psu's is +-5%, then it's okay to set those lines upto 5% above.What is too high for +5v rail ?
What is too high for +12v rail?
5v ~ 5.25v
12v ~ 12.6v
Personally, I have never set my 5v rail that high. I adjusted my 5v while at full load, which in turn increased my 5v line by .1v at idle. My 12v rail was around 12.7v (load) and I didn't experience any stability issues so I wouldn't be too worried about that. BTW, are you checking these lines with a multimeter or through software (MBM, Sandra, etc...)? Software based readings are often not exact.