And yes, does keeping my cabinet open for all da time would help or not?
It depends. If u have a good fan arrangement in ur cabinet, then keeping teh cabinet panel open will actually result in a increase in temp. Otherwise, keeping the cabinet open will work better. The easy way to know, is to actually try it out for urself but here's a pointer: My old cabinet with only one cabinet fan was cooler when I didn't put the side panel on. But my new cabinet with 3 cabinet fans is actually a lot cooler with the panel on.
@pradeep
Although adding a cloth filter will decrease dust inside ur system, it also drastically reduces the CFM of the fan and hence it's effectiveness in keeping the temperature down. So ultimately u will need larger fans with more cfm to push more air. I prefer to keep the vent holes covered in my cabinet with a grill for protection and then clean the insides regularly to take care of the dust.
Also, the "ideal" fan placement of the exhaust is not the rear of the cabinet, but rather on the top panel of the cabinet. And the intake should be bottom front, as the rear of the cabinet does not have proper circulation. These fans shud be in addition to the ones on the side panel. The side panel fans are mostly for Spot-cooling of processor and gpu. But hey, who can afford the ideal?
And yes, keeping a positive pressure inside the cabinet is better than keeping a negaitive pressure. I guess this is because with negative pressure, air will flow into the cabinet from all possible holes, floppy and cd drives. This will quickly build up dust inside the drives lens/head and the uncontrolled flow will not be able to take ay the temperature effectively.