It is possible, but... In my experience (have replaced lots of power suplies) I think the chances of you getting a lemon are greater than your components frying it out. I have, on several occasions, gotten NEW power supplies that blew out almost every component when hooked up...and of course I used the same new PS on two systems before I figured it out, frying two systems.
If the PS blew right away I would first hook the new (third) PS up to a different system. Then to the mobo in your system and slowly add components until you either have a running system or another blown PS.