You've seen other ATX power supply mods here on instructables, but this is my version, a bit less refined but it looks nice and most importantly, it works.
Step 1: Cut off those cursed Molex connectors!
Tools: Screwdrivers (phillips)
Needle nose pliers
Electical tape / heat shrink
One LED of the desired color (and a 1/4 ohm resistor if you feel the need)
This took me around an hour to complete, a bit longer to document and mess with minor hiccups i encountered.
Well, for the most part if your working with an ATX power supply, it has a 20 pin motherboard connector on it, cut all of your wires about 1 foot long, the brown, gray, and purple wires arent necessary,and can be cut shorter, but do NOT cut the green wire, that will go to our switch.
Step 2: Connect all of the wires of the same color
Separate and bundle all of your wires by color, excluding the green and one black wire (they will go to your on off switch). Cut a hole ( i used a dremel) and mount your switch (im not sure what it should be rated for, the switch i ended up using is a push button style, i salvaged from my broken Sega Dreamcast power supply, i would assume it is rated for 120 VAC). I thenI taped all of my wires together for a clean look, although if i had binding posts i would much rather use them than the wires setup i chose.