Some power supply units are rated for continuous output while others are rated at peak. "Continuous" means that the power supply is rated to run at it's maximum capability for no pre-determined period of time, while "Peak" indicates that the power supply will only run at the specified wattage for a brief period of time, possibly only a few seconds or up to a minute. This number is typically about 100W more than the power supply's actual continuous rating.
so depending of the specs of the psu , it will dictate you the max continuous rate
so your psu will work , but less power capability psu will run at high and heat up the components , thats why they suggest a 750W and more
but if your are not going to overclock , you will be ok