New
#181
I don't know, but it sounds to me like your PSU's internal temperature could be going over 30°C and that means its total continuous capacity may be decreasing as well. It's rated to deliver 500W continuously at 30°C or below. If the temperature goes over 30°C, then its continuous capacity diminishes. 30°C is only 86°F. A good quality-made PSU would be rated for up to 50°C, which is 122°F.
The reason you can smell it is the PSU is new. I think that's the New PSU Smell, kind of like the New Car Smell.
Anyway, I know that what I said sounds like a cause for alarm, but your power draw is still too low to worry.