Too right. There is simply no need for a PSU that's any larger than that, but 99% of people think they do need masses of power. It takes a really top end SLI and Crossfire rig to break even the 300watt barrier, so why anyone needs a 1Kw power supply is beyond me!
I have a fairly modest setup ATM.
X2 3800+
3GB RAM
nForce 4 SLI board
X800XL
1 x 500GB hard drive
1 x DVD-RW
1 x X-Fi.
My fanless, 300watt Silverstone PSU is more than capable of powering all of this, without the need for any active cooling near it at all.
Sometime in 2008 I plan on adding an 8800GT, if funds allow, and I have no doubts that my 300watt fanless PSU will continue to operate quite happily with all this.
And the ironic thing is, if I upgraded my rig to a juicy quad-core Penryn, my power consumption would actually be lower than it currently is. The trend these days is to consume less power, not more. PSU manufacturers must be cursing because until now, they have relied on the naivity of most people to sell their ridiculously overpowered PSUs.
Actually, you're very far away from the truth. Yes Power supplies are very efficient across the board, but they peak (well what's classed as good) at 80-86% so you wouldn't run one at complete full load 24/7 just like a phase change system.
SLi easily breaks 300w, Jokester's rig a while back pulled something like 600+ watts (624 sticks in my mind) and I'm sure he said it was yet to be clocked.