Yes I did consider this option, but:

1. Its very hard to get your hands on high power server PSU. Does HP even make them more than 1200w? And ones I have seen look like are two PSU`s combined together anyway. They just look like one.
2. Break out board is extra point of potential failure  +god knows what quality are they.
3. PICO is another extra point of failure.

I prefer least possible hardware components in the system.