Basically, your wattage equals your voltage by amperage. What you're doing is keeping the voltage the same (if you're doing it right) but upping the max amperage. There are no problems here with what you're thinking. Basically, 300W*3 = 900W.
What you're going to have issues with is that you're going to want to use identical PSUs when you hook them up together. I suspect it'll give you less line fluctuation since they are all regulated the same. Be warned, though, that any modifications you do will lower the overall voltage of the system by adding resistance. You'll need to do VMods on all three PSUs to get your voltage back up.
What'll end up happening is your amperage will be the sum of the three PSUs, but your voltage will be lowered by the connecting hardware. Your 12V line will run at 10-11V, for instance. This is why you'll need to install pots on your voltage regulators in the PSUs (or buy PSUs with them already installed).
What'll happen, though, when one goes out, is it'll suddenly remove its resistance from the circuit. All of a sudden, that 10V circuit that you modded up to 12V will be running at 13V or so. If a PSU goes out, you're probably f*cked with a setup like this. That is why normal "redundant" power supplies are basically two power supplies with a switch between them ... they aren't simultaneously supplying power, but are set up so that if one drops the other will seamlessly take over. You can do this, but it'll be tricky to get the precise voltage values you'll want, and if something goes wrong, you'll probably have a 40 lb paperweight.
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