why titanium? do the sums. the extra 1-2% efficiency might save you $10 over a year. but cost you an extra $20-50 over a gold?
But yes they will only draw what they need. The particular case you mentioned is poor as a 700 at middle of range is most efficient, maybe 95%, and a 350 at top of range will have efficiency tailing off maybe down to 85%. But those numbers depend solely on the PSU in question.
Using those numbers the 350 will draw 411 from the wall. Whilst the 750 will draw 368 from the wall. That difference of 43W is what the extra inefficiency costs you. so over 23 hours (at full power) it'll cost you another unit of electricity (perhaps 15c). so for every $10 difference in the price you need 1500 hours of full power usage (1/2 a year at 8 hours per day 100% usage) to get payback, so call that a year at 4 hours per day. And you can estimate whether it is worth spending that extra now or spending it over the next 5 years or however long.