While that's a nice group-think argument, performance is all that matters. The S12II still performs better than anything in its price range. If age and moderness of platform mattered more than performance, then AMD circa 2007 would have had had the best CPU's in the world (in case you aren't that old, they didn't, but they made the same argument you just made).
No, the M12II can't match DC to DC voltage regulation but it's has solid voltage regulation. It also kicks the snot out everything in its price range as far as reliability and ripple suppression is converned, and it has a 13 year history to prove it.
There is more to PSU performance than just voltage regulation. This singular obsession with DC to DC at this price point is myopic in my view.