If the PSU can supply no less then 32A on the combined +12v rails then it will be fine. I suspect it can't. You will want to check out PSU 101 in the PSU section. There you will find out how to calculate your PSUes total amperage and how to figure out your systems power needs. That sticky will give you all the information you need to find a good PSU. There is a link to it in my sig below.
I tried using the extreme powersupply tool... and it came up with 364watts and this was with a 8800 gtx as the 8800 gts isent in the list.. but as you write watt isent all. And about the 12v rails I dont much about. Problem is i cant find my psu specs thru google... only alot of german sites has info but I cant read german but ill try and search for some info on the psu itself and get back... just all my hardware is soon ready to be put together so i wanna be sure i dont fry up a 8800 gts fx
Read PSU 101.
Once you have entered your CPU, Video card, 1 HDD and 1 Optical drive and get the wattage in the calc you divide that number by 12 to get the amps your system needs. Add 2A to 4A to that to leave a bit of a buffer and add 4A to 6A if you plan to OC.
If you read the Thread it will also give you a reference sight of quality PSUs It's the second link in my sig. In that thread you will find quality PSUs with information like there total amps on the combined +12v rail. There are also links to Newegg for each PSU and prices. If you live in the UK then there is a link at the top on that thread that will redirect you to the UK version of the list with links to Scan and prices. If you live elswhere i'm still in the research fase of diveloping those lists.
just took out the psu and it says that the 12v line has 34A and thru the tool as i posted i need 364watt divided by 12 thats 30.333 and with 2-4A is shows that my psu should be just able to do it but ill try and dig more into it