PSU 101 time....
What you're reading from the wall is "True Power" AC wattage usage. And power factor doesn't affect that number. Power factor would have an impact on your "Apparent Power". Power factor is (True Power)/(Apparent Power). Since your PSU has active PFC, your PSU is typically at a power factor of .99 making your true and apparent power typically equal.
What you're incorrectly attributing to power factor is actually the PSU efficiency to convert AC to DC.
The rating of your PSU is in DC. If you're pulling 300W from the wall with an 80 PLUS Gold PSU, you're PSU is outputting 87% of that power, which would be 261W DC.
Assuming your Kill-A-Watt was highly accurate (which they're not), you would have to get a reading...