You will be fine and with plenty of power to spare, the chart he linked to is for the whole system at the AC source.
That means that the single 5870 system in the test uses 354W multiplied with the efficiency of the PSU used, probably around 80-85%.
354*0,85=300,9W
A 550W corsair? Pfff, it will run your computer while powering your blender, microwave and spaceship at the same time.