I think wattage ratings are nearly useless.
For example, you can buy a case with a 400w power supply and it can still only have 4 power connectors. The reason is the PSU, despite being rated at 400w, can't really deliver the amperage necessary to drive many more components. If you buy a good quality case, you won't have this problem, but just an example.
At the same time, some of those tiny little breadbox cases run on 230w PSUs and power a complete Athlon 64 system. So I think a good quality 300w PSU will be fine, but the more the merrier. Just make sure you don't get a cheapo 450w over a good quality 350w PSU.