What size power supply do i need for the i7 processor

Internal components consist of ...... Intel DP55WB MoBo Socket LGA1156 micro ATX with 8 channel audio. Processor is Core i7 860 @2.80 GHZ . 4 G of DDR3 Ram. Also a GeForce 9500GT 1 GIG video card, and a 500 GIG Hard Drive (sata)
I am running 2 internal LG DVD drives and an external drive as well as 2 external HD's. I hope this is enough info.
 
The general rule of thumb is a high quality 500 to 550 watt power supply with sufficient current (amps) on the +12 volt rail(s) can easily power a system with any single video card made. A high quality 700 to 750 watt power supply with sufficient current (amps) on the +12 volt rail(s) can power a system with two video cards operating in dual mode. There are a few exceptions like the new ATI Radeon HD 5XXX series cards which use less power due to their energy efficiency.

A high quality 500 to 550 watt psu will have a +12 volt rail rated at 40 amps. A high quality 700 to 750 watt psu will have a +12 volt rail rated at 60 amps.

In addition the power supply should be at least 80+ Bronze certified for energy efficiency. There are some models available which have achieved 80+ Silver and 80+ Gold Certifications.

Before purchasing a new psu you will need to decide whether you will eventually have a pc with one or two video cards.

Corsair and Seasonic are two of the brands that have a reputation for high quality power supplies that consistently earn high marks in technical reviews. They are reliable, stable, and come with a 5 year warranty. Some of the newer models come with a 7 year warranty. Lately we've been seeing a few other brands offering some high quality units. One example would be the Antec Earthwatts series which is a major improvement over Antec’s older psu’s like the Basiq models.
 

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