scratch that.
i think the ATX power supply, while a promising solution to all my powering needs on paper, is just not suitable.
i tried running everything off of it, and sometimes it works, sometimes it doesn't.
which is no good.
switched over to another PSU for the 12 display line, with Bela still on the ATX 5v line, and bela wasn't properly booting (it opened the 12v line for a second, then crashed. and repeated that cycle.)
the minute i plug in the USB from the laptop, all is well.
now i have it running just on the USB as a power supply and Bela does its job perfectly.
so far for the ATX.. i think its 5v line is just not clean, stable or regulated enough.
only thing i can try is putting a 5v regulator on one of its 12v lines myself.
if that doesn't work, then i'll need to come up with some other, foolproof solution.