Sure you can, that 450W requirement is probably the maximum draw that mystery graphics card will draw, so thats why higher rated power supplies are recommended, so you have power to spare when its actually needed.
However in your case, as long as you'll only be sending emails, and surfing the internet you're going to be just fine man.
Of course if you're any kind of a gamer and start pulling that 3D power from that Graphics card to play your favorite game, and your system begins to crash everytime you try to play your favorite 3D intensive game, you'll see why a good supporting power supply, is not an after thought with todays graphics cards.
So let us know how that goes for you? OK
Oh BTW, thats a nice 400Mhz OC on your X3 720, did you allow for the added power draw being used to OC the CPU? Just Curious.