Single vs. multi completely depends on what power supply we're talking about and what you plan to power with it. There is no blanket "one is better than the other."
When you go with something with one big +12V rail, you lose that safety that limiting a rail to no more than 240VA provides, but if you have a high end machine with multiple +12V rails, if the manufacturer of the PSU goofs up and puts too many connectors on one rail, you could have your PSU shut down unexpectedly because one of your rails exceeded capacity.
Your old PSU is "single rail", sure... but it's a single +12V rail that's only 20A or 22A. So just about ANYTHING made today, single or multi +12V rail, is going to have more usable power (usable for a modern day ATX12V PC) than your old Thermaltake. And since you're able to power that machine with an old Thermaltake 560W, I think it's safe to say that just about anything made today is going to power your system... including the VX450.
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