lol. I'm calling shananigans (sp?) on this one.
17A @ 12v won't evaporate, and there's not a resistor/resistor array on the planet that will make electricity vanish. The only thing you can do is convert it, and what does electricty like to be converted to? Heat. So unless you want to jimmy-rig a 500W heater, I suggest you ignore the above comment.
If you push your PSU beyond its limitations, stated or not, one of 3 things will happen:
1) Your rails will begin to droop
2) You'll blow a fuse
3) Your PSU will catch on fire
So if you want to see if your PSU can handle it, the easiest way is just to check the voltage at full load. If your PSU isn't getting hot and your voltages are reading A-OK, then be happy
In short, The Radio-Shack DMM should do fine to check your rails. Just run 3dmark or something while you take samples.