As Dave says, the external PSU is just a transformer - there are no capacitors in it.
As with all transformers, you must allow plenty of airflow around it. Also put it on a hard surface.
With a working MTX with no expansions, the external PSU should be okay. But keep in mind that I suspect it is working only just within it's rating. So if you have some power hunger expansions / add-ons, switch off and allow to cool down every 3 to 4 hours if possible.
Having said that, transformers in general are normally very reliable. And I have not had any problems with mine
The rectifiers, smoothing/filter capacitors and regulation circuitry are all in the MTX itself.
It may be an idea to renew the two main smoothing/filter capacitors, but the ones originally fitted appear to have a good lifespan.
Use one 4700uF 25V 105C radial and one 4700uF 25V axial (if you can get a 105C great, if not use a good quality 85C type).
I have found dry solder joints on these capacitors in the past, but have not renewed many.
Oh and if you remove the MTX board from the case, don't operate it for too long, as the small heat sink that the power transistor and voltage regulators are mounted on gets too hot - in normal use it presses against the MTX metal case to help get rid of the heat.
Mark