Gotta agree with everything Bob's saying here.
A bigger PSU will usually draw more power from the wall. That's because PSUs are a little more efficient when they have a load on them. Most PSUs have their peak efficiency between about 55%-85% load. It drops off a tiny bit at 100% load, and usually drops off more significantly at extremely low loads.
For example, say JimmysPSUs all have these characteristics (similar to an Antec True Power PSU):
65% efficiency at 25% load
68% efficiency at 40% load
74% efficiency at 70% load
71% efficiency at 100% load
So, say your machine draws 240W. If you have a 350W JimmysPSU, you will pull 324W out of the wall. If you have a 600W JimmysPSU, you will pull 353W out of the wall to get your 240W. It's not that much of a difference, but it's like leaving a light on several hours a day that you don't need to.
This isn't always true, though. A lot of manufacturers have PSUs which are almost identical except for a tiny bit of beefing up for a bigger wattage. A lot of 600W PSUs will be just as efficient with a 200W draw as their 500W counterparts will be with a 200W draw. That's because they're almost the exact same PSU.
But I wouldn't worry about losing efficiency just from your PSU being too big. The difference between quality of PSUs is much more important.
For example, let's look at some different PSUs with a 150W load on them
SeaSonic S12 500W = 85% efficiency = 177W AC draw
Cooler Master Real Power 450W = 80% efficiency = 187W AC draw
EnerMax Noisetaker 475W = 79% efficiency = 189W AC draw
Fortron Blue Storm 500W = 79% efficiency = 190W AC draw
EnerMax Noisetaker 600W = 77% efficiency = 195W AC draw
OCZ ModStream 520W = 77% efficiency = 196W AC draw
OCZ Power Stream 470W = 76% efficiency = 197W AC draw
Fortron Aurora 350W = 69% efficiency = 217W AC draw
Antec NeoPower 480W = 68% efficiency = 220W AC draw
Antec True Power 380W = 68% efficiency = 220W AC draw
HighPower 300W = 66% efficiency = 227W AC draw
Antecs are pretty good and they're a good deal with a case. Fortrons are decent and they're pretty cheap. Some people seem to think that any old Antec or Fortron PSU is among the best, though, and they're not. The Blue Storms are great, but I'm not going out of my way to get the other ones.
Antecs aren't bad at all, though. Keep in mind that most of your generic PSUs are going to claim a peak efficiency of 70%, but good luck getting it.
I don't know that efficiency itself is that big a selling point, though. I'm impressed with SeaSonics and Blue Storms because of the build quality, low noise, reliability, etc... But saving 50W of power... sure, that's a lot. It's like leaving an extra light bulb on 24 hours a day next to your computer. But it would take a few years to pay for the extra price of the PSU.