In the teardown video there is no real space in that casing to trap anything. The majority of the plastic in that picture is actually specifically dedicated for unidirectional airflow. I agree there shouldn't be a problem with either with heat (especially with their crappy low voltage CPU's). I do think MS has plenty of space in there for an internal power supply though.
Now I have to worry about 2 power supply...when I clean out my tv cabinet before launch!