I was going to suggest the swap. However, there's a risk. If the psu problem in your newer PC was caused by bad wiring or component, it's possible that it'll kill your old PC's psu as well. In addition to that, older PC usually have "weaker" psu's which may not be able to handle the load of your newer PC. A P4 also requires a second power connector, which isn't available on older psu's.
What're the spec for your PCs?
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