I downgraded my theoretical build from a Rosewill 550W, to an EVGA 500W. Unfortunately, this might be a problem for what it'll be powering.
FX-8320 (Not exactly overclocked, but I'll enable the built in Turbo boost it has which brings it up to 4 GHz)
Sapphire HD 7950: Overclocked from 860 MHz to around 1000MHz
The estimated wattage on PCPartPicker is 434W however, I doubt this includes overclocking. I'm leaning towards that this won't be enough. Especially since I know that you want headroom on your PSU so it'll last longer.