I understand your preference for greater headroom, however in this case I don't believe it is necessary.
Granted, 550W may be what was generally accepted as minimum for the 470 when it was released. Let's not forget that at that time we had 130W tdp 1st gen i7 systems to match with it. OP is using a 65W tdp i3... there's your 50W plus some already.
See here:
http://www.guru3d.com/articles_pages/geforce_gtx_470_480_review,13.html
overclocked i7-965 + 470 = max total system power draw of 419W. Now assuming a PSU with 90% efficiency (unrealistic but to err on the safe side) that's a total of 377W drawn from the PSU.
I note that they also suggest a min 35A on the 12V rail, that PC P&C is 38A.
As far as shortening the system's life, I assume you are referring to the potential damage to components due to eccessive deviation in voltage regulation and/or ripple? Being a quality unit, I expect the increase in deviation and ripple at higher loads would be negligible. Certainly not enought to cause any damage. The only other area you might see increased wear is in the caps within the PSU due to higher temperatures. Fortunately the PC P&C is fitted with japanese 105c capacitors, so again, any wear would be negiligible.
In the end, I doubt OP would experience any difference between the 500W PC P&C or the 550W Seasonic.
Edit: can't do math, need to go back to school