skit75 :
Could be an older system. Migration to +12VDC "carrying the load" has only been around about ten years. Before that, the +3.3V and +5V rails did all the heavy lifting and +12V was only used for HDD\Optical Drives.
This is true. As power requirements grew the wire gauge would have had to increase quite a bit so 12 volts was the only option.
150 watts @ 12 volts is 12.5 amps
150 watts @ 5 volts is 30 amps
150 watts @ 3.3 volts is 45.45 amps
Higher current needs larger wire.