It is common, especially with the cheaper PSU's that over time the capacitors get weaker and the PSU will not put out as much power as they did when new. The lower end power supplies also do not have the safety mechanisms as the quality ones and can put out a power surge when they go that will take out other components such as motherboards, CPUs and other components. That is why I always recommend to everyone building a computer to never save money on power supplies. Buy a quality power supply such as Seasonic, XFX, Corsair, Antec or a few others. The next power supply I buy will probably be a Seasonic. Of that list I just mentioned, most of those companies PSU's are built by Seasonic. All of the quality ones rarely lose power due to aging of capacitors and have safeguards built in to help stop a surge that can take out a whole computer. A PSU is the heart of your system. Everything depends on the PSU for proper voltage. Also remember that when a computer starts up, it is extremely stressful on the power supply. It is sitting there doing nothing. When you push the power button to start, Everything in the computer all of a sudden demands power from the PSU. It goes from a dead stop to 100% instantly. A weak PSU sometimes can't handle that load. But, after a few attempts it gets warmer and will be able to start. I'm not saying that is what is happening with you, but the possibility is there.
Another thing you have to remember is that your PSU depends on the UPS and not the wall current for proper current. All the power from the wall goes through the UPS and it determines how much power to send to the PSU. Also, I have been told by others who know more about UPS backups that a UPS will only put our it's rated power. So, For instance if you have a 1000W PSU running off of an 800W UPS, The ups will only allow 800W to be delivered to the PSU. That 1000W PSU will never put out 1000W because it can't. I've known of a couple of people who have had to return UPS systems because they needed a larger one to be able to properly power your system. Now, if that happens and the UPS begins to age and have power fluctuations it will put out less power than it should, and could have short periods of no power. I'm not saying, again, that is your problem but it is also a possibility. Just connecting your computer to the wall would answer that question.
Your answer to can a PSU do that is yes it can and the UPS can do the same. But in your case I would bypass the ups just for a test to check that out. if you continue to have the same problems, you have ruled that possibility out. Very simple and free test. PSU's also can do most anything. Some will blow up and some will just start to act up a little and get worse and worse until they quit and some will go out with one big surge of power.
As far as your ram goes, I prefer not to overclock my ram. Some people do it and are able to have ram that can do it and without problems. I'm not sure exactly how your chipset works, but many like mine and most AMD systems, if I raise the FSB it will also raise the frequency of the ram as well as the CPU. My chipset is much different than yours, so it will work different. I know years ago I had another system and to get my ram to run at 1600 I had to raise my FSB by 20% to get it there, which also overclocked the CPU, so a lot of voltage had to be adjust it to stabilize it. My current system, the FSB (bus speed) also will increase ram and voltage to the PCIe slots, meaning it increases the voltage to the GPU as well as the hard drives. I don't believe your system does, but it would be worth you looking into exactly what it does do, besides overclock the CPU. It is usually tied to something else. I have always said that overclocking is an art and not a science. Every component is affected with what you change in bios. So, the trick is to be able to change bios and keep every other component stable because everything you change to affect the CPU also affects other components.
As I stated before, I am an overclocker and am not adverse to overclocking, but every time I start having trouble, and you always do at times, I reset my bios to defaults and run all the tests I can to ensure it is stable at stock. Then I go back to the overclock. I do that because I know that over time components age and react different than they used to. No system will ever have a stable overclock unless it is perfectly stable at stock, period. I know I just had to do that with my system and ended up having to give my CPU more voltage than I had to do for almost a year with the same overclock. It happens. So, just because you have an overclock that has been stable for years, does not mean it will stay stable. If you are going to overclock, you will always have times you have to start over or go back in to make adjustments. Never use software to overclock, always do it through bios, with you making the changes. If you go to Overclock.net They have guides to almost every board there is. And what they say in their official guides are right on the money. But, all components are not made equal, so they can't tell you how much voltage your CPU needs, they can tell you how to set up your bios and what the voltage ranges are for every setting and will tell you how to adjust them and what they do. You have to do the testing and see what voltage everything needs. The first thing I always tell people about overclocking is, if you can not afford to replace it, don't overclock it. Accept the fact that overclocking puts stress on almost every component in the machine and will cause them to wear faster than normal. That stress can cause weaker components to fail. Everyone who are overclocking enthusiasts and serious about it will tell you that. On my system I can run Prime for hours at 5 GHz and it will not overheat and is absolutely stable. I could run 5 GHz 24/7 if I wanted to, but I don't. I run mine at 4.6Ghz 24/7 because that is fast enough, puts less strain on my system and it will run prime for 24 hours and never get over 68C, an my max is 105C. Meaning it is perfectly stable, puts reasonable stress on my system, and I don't have to worry about temps, no matter what I do with it. I can play any game and never get over 55C. That's what you should do. Find a stable, reasonable overclock and leave it there and don't put undue stress on your system and you will be fine. Just remember you will always have to make adjustments or go back to stock and start over. Components age and require different settings.