It is not true that the more watts the power supply unit, the better.
Many people are getting bigger and bigger power supply unit. The vendors also push the higher watt power supply unit because there is more profit.
In all electronics or engineering, there is a factor known as the bell curve. For current technology and size of power supply, the peak is 235 watt.
There are a few important factors to look for in a power supply unit.
For newer chipset which draws a lot of current during standby, the 5v+ standby has become important. Choose one that is about 1 amp or more. Wake-on LAN and Wake-on modem add to this demand as they draw from this 5v+ standby, so if you don't need it, don't connect these features.
Quality of power supply is important. Choose those with CE approval. Check inside to see if the input has an input filter system. This is kind of difficut if you are not electronic trained. Watch out for units that can be remarked with a higher rating. If there are several rating, look inside them to compare. Higher rating power supply unit have bigger heatsink.
Another factor to look out for in getting power supply is the fan. You can see the rating of the fan.
The larger rating power supply unit have larger and more components. This restrict air flow to cool the internal heatsink. Law of reliability states that the more you have, the larger the probability of failure.
For your information, a 235 watt power supply is enough for dual PII-450, 3 HDD, CD ROM, TNT, LAN and SB128 and 4 fans. To be precise, the consumption is 145 watt.
A similar configuration with an Athlon 800MHz would not need any more than the above.
A T-1000 MHz with HSF, video card and mobo uses only 45 watt. When fully running, its requirements goes up by another 25 watt.
From these, a inactive window display of most CPU would be around 120 watt climbing to 180 watt on full activity. You get a 300 watt unit if you have a lot of peripherals like disk, CDRW, DVD, 10,000 rpm hdd, etc.
There is an instrument to measure the exact current and power of the computer. It is a DC-hall-effect clamp ampmeter. About $200. USD