Sounds like you have it set up correctly. I would suggest posting good high res pictures of everything. It may help people figure out whats wrong.

I know the first couple of times I tried my power supply it didn't like working. It would make funny noises. It seems to have worn its self in. Have you tried to hook up a load before you turn it on? Try pluging in something like a simple computer fan to the output and see if that helps.