nope, AC to DC conversion usually results in a slightly bumpy wave, since no converter is 100% perfect. An AC power source converted to a DC output usually looks like this on an oscilloscope(there are 2 waves, there, 1 for unfiltered, and 1 filtered, most decent PSUs have a filter).
That is true for a unregulated power supply. A regulated supply has very small ripple.
Computers use switching power supplies that are more complicated than that.
First the 220V mains power is rectified to give 310VDC. Older power supplies just use a diode bridge, newer ones use a more complicated circuit to have a higher power factor. Then the DC gets chopped at high frequency and goes trough a transformer, then it is rectified again. A chip regulates the output voltage by controlling the duty cycle of the switching.
Computer PSUs have high frequency ripple but no 50/60Hz ripple. A computer power supply without PFC could be connected to 310VDC or a square wave for all it cares. PFC may act differently.
Isn't there a way to rig up two PSUs? If you did that you could run two UPSs, one for each...which would still be pricey.
Two smaller UPSs would not be a lot cheaper than one big UPS. Also, while you can use multiple PSUs for a PC (powering different devices - one for all hard drives, another for everything else etc), the load would not be distributed between them - one would use more power. There are redundant PSUs that balance the load if they both work, but they are really expensive.