My two cents, from a kiwi collector point of view, not a museum curator or EE point of view [so it's what I'd do, rather than best practice] and it's not specific to the Rainbow 100. I'm the type of guy who just plugs it in and runs away.
- paper filter caps, if present and dry, lots of smoke will come out and it will be hilarious, I've had them blow on UNIX systems and taken the time to shutdown the OS correctly before powering the unit down. My wife makes a

face and life goes on.
- load - most power supplies I've seen will have internal resistors that are suitable loads, I've never had any computer power supply become damaged from not having a load, although I respect with some designs it could be possible (I just haven't come across it)
- if load is needed - I use the motherboard. I've found the protection circuits in most of these big 80's supplies to be very reliable. The only exception I've had to this is small mini supplies - like the Commodore 64 which like to go 18V and blow up your favourite DRAM. [Reminder: this is me being me, you can use resistors or light bulbs if you want to do this properly]
- check the resistance on the mothebroard lines before powering up, there is nothing to be gained from testing the overcurrent function.
When you power it up, given it's age, it's also quite likely the hard drive is starting to lose it's original factory format, so if it has errors on startup be aware that you may need to perform a low level format on the media (it doesn't mean the drive is toast). As long as it doesn't sound like it's ripping itself apart and spins up to speed - you're usually golden.
With floppy disks, rotate the centre donut, and shine a light off the surface - if you see any spots, do not put it in a drive. You can buy new sealed media. I'd also recommend not using a valuable disk the first time you try the drive - if the heads are dirty, it'll tear up the disk.
Not sure if that's useful or not, but thought I'd share just in case.