I have downgraded from a Seasonic G series 750w (gold rated) to a BeQuiet Straight Power 11 550w (gold rated) that I recieved as a review sample on OCUK's forums. Even the 550w is more than I will ever use as the pc in my siggy along with Alphacool VPP655 pump(D5 Vario), 12x 120mm fans, 4x 200mm fans, 2x fan controllers, 2x Temp monitors and a couple of leds for the reservoir only pulls 128-275w at the wall while gaming (depending on the game) and the very max I have managed to make it pull was 367w at the wall while using OCCT's psu torture test. Idling/ internet browsing is 72w at the wall.
What people need to remember is that while the psu may be labelled as 500w, 600w etc it may not be capable of anywhere near that on it's 12v rail where you need the power. There are plenty of psu's that have significantly less on their 12v rail(s) than the overall figure on the label. A modern design, quality psu will have all or near enough all of it's power on it's 12v rail(s). A older design or cheap psu can have much less on it's 12v rail(s). Corsair's CX series were a prime example of weak 12v rails for several years after they ditsched Seasonic and switched to CWT as their oem. The CX600 only had a very poor 480w on it's 12v rail and this didn't improve until the 3rd version which had a 552w 12v rail. Now that they have ditched CWT for Great Wall on the non modular CX series they are actually a decent psu. The CX600 has been replaced by the CX650 which has a 648w 12v rail and the warranty has increased from 3 years to 5 years. It can get much worse than that though. Those so called "high power" psu's that you can buy on the likes of Ebay for £20 often have half their supposed power on the 12v rail and even then it's doubtful that they could ever provide that much without blowing up.
At the end of the day the psu is not a place to save money. Buy a quality one and it will last through several upgrades and many these days have warranties of 7 years, 10 years or even more. £80-100 may seem a lot for a quality psu but is it worth the risk of cheaping out and buying a psu that could fail and take other components with it? If things are tight rethink your other components. Do you really need that super duper top of the line factory overclocked card or could you go for the next one down and save £30-50 which you could put towards a better psu? I know where my money would go.