Psu for new build

I'm getting some new components:
Cpu: Amd Fx 6300
Motherboard: Asus M5A97 R2.0
Video: Asus HD 7770 Ghz Edition
Ram: Corsair 8gb or 2x4gb ram.
I'm also running an old seagate sata 2 hdd, an lg dvd-writer and a tv tunner.

I want to also upgrade my current psu because it's like 6 years old and I don't want to risk anything. My current one is 500W but I remember it was really cheap, came with the case and I've read that psus lose wattage over time.
I know next to nothing about psus.

What would be a good psu for this configuration?
Price is an important factor.
I had a test done on and with 100% load on all components the recommended wattage was 429W (minimum wattage 379W).
Would something in the price range of $40 suffice?
Any suggestions are welcomed.

Also what could happen if the psu isn't good enough to handle the system?
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  1. antec vp 450 will do for cheap psu , but for 60 you can buy a better psu would not trust a 6 year old psu that came with the case , get something good , why risk blowing a board or cpu
  2. My thoughts exactly. I built this system on a budget and I definitely won't have the cash to replace any of the parts.
    Thanks for the suggestion.

    I've read about antec being a good brand.
    What about Sirtec, Zalman, Inter-Tech, Segotep or Cooler Master?
    For instance
    Cooler Master GX 450W
    Inter-Tech CobaPower 550W

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