I don't remember my PSAT, but I got a 1430 on the SAT (like a 760 in math, 670 in verbal). I did score enough to be a National Merit Scholar. This is where is sucks, though. I thought that good scores would get me lots of scholarship money, wrong. I looked stronly at Auburn, Rose-Hulman (their ACT AVERAGE was 32 is 1996), and Virginia Tech, but neither would give me much in the way of scholarships. At any out of state school, the best offer I could get was a 2-3 thousand a semester.
I am not at the University of Louisville (in state) on a full scholarship. It is a good deal, 5 years paid tuition + housing + books. I am very happy with my education, as I already appear to have a job lined up. I will aslo have my master's degree in Computer Engineering/Comp Sci in about 1.5 years now. The problem is that I originally wanted to go to an out of state school.
Lesson learned: Unless you are a minority, female, of lower income, or any combination, you will get very little in scholarships. Just go with what you can get.