Did some more research...
Appears this IS a single rail power supply or at least, they are pulling power from a single rail. The actually supply puts out better than 450watts true power and closer to almost 500W before it shuts down. Not bad for $50...
Review.
http://www.hardwaresecrets.com/article/750/1
Still doesn't explain the single rail design but still has 12v1 and 12v2 which they tested independantly. How do I combine this? Just jumper the pads and wire them together???