PSUs don't work like that. For example, if your system consumes, say, 400W, even if you got a 1200W PSU you'd only ever see about 400W being consumed. It's absolutely impossible for a PSU to supply more current than is required by all of the devices connected to it. Also, the higher rated the PSU, the (generally) more efficient it is at lower outputs; a 1200W PSU will waste less in heat than a 650W one at 400W.
You do still need to be picky about the components you choose, but I would say a modern graphics card means you don't necessarily have to choose low power consumption over performance. A GTX 680, which is a pretty good card, automatically scales the power consumption from 48W to 250W (I think?) when it really needs the power, so it averages out to be extremely low consumption if you do leave your PC on all the time.
Edit: Oh so completely tree'd!