Do the PSUs have lights on them? Do those lights turn off? How is the power quality, clean or noisy? Are you using two power leads, or a Y-cable? If two leads, to the same circuit or separate?
I would agree that it's probably the backplane, and you can probably find one on eBay or Kijiji for relatively cheap.
And of course, if you haven't already, check the idrac event logs for anything interesting, and try the diagnostics.