That corsair can provide 450w all day long.
With the specs in your sig, and a 5850 instead, I would imagine your power draw is around 200watts.
300watts? What you been smoking.
Bit-tech/custom pc review of HIS 5850, with a i7 965, 6gb of ram, asus p6t, shows a peak usage of 238watts.
I'd just say upgrade it because you'll eventually need to