I bought a 600W PSU 6 years ago and it is still running great. At the time, the top end GPUs required PSU's over 500 watts and it was quite common to see people push +700W PSUs. As time goes on power requirements stay the same for more processing power, or power requirements drop for less processing power. Just look at Intel's tri-gate design and they are talking increased performance with less power. Yes, power requirements have increased over the last decade, but we are doing WAY with quad core processors and way more powerful GPUs.
As a note, Tom's put a GTX580 with an overclocked i5 and it drew 488-507 W depending on PSU efficiency, and it ran on a quality 450W PSU.