Why would you spend more money on overclocked cards to then underclock them because of your PSU? What happens when down the road you want to upgrade and then you are stuck with a PSU that won't cut it, so you will have to spend the cost of a gpu AND a new psu all at once?
You said you JUST got the psu.. well return it.. use the money plus a little bit more to buy another, more effecient one.
Also - underclocking them will only lower the power consumption slightly. Not enough to make a real difference.