I have my power supply on the floor, and the control section is in a rack. This works very well. Obviously you want to have the power supply on some kind of rack/base/isolation unit on the floor. The question, of course, will be whether the length of your umbilical cord will allow this in your set-up. Good luck.
CTC Blowtorch
I have recently made a deal to acquire a CTC Blowtorch, which has been sort of a long term dream of mine ever since I heard Bob Crump's unit some years back. The Blowtorch has separate main stage and power supply boxes. I will, at least temporarily, be somewhat short on rack space. Does anyone have experience to share regarding stacking the two boxes? Can I expect any sonic degradation from doing so? My suspicion is probably not, given the sheer amount of aluminum separating the two, but would be most interested in hearing others' observations.