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2x X5680 @ 4Ghz crunching – 150-160W each = 320W (conservatively), MAYBE 400W if you go up to 4,4-4,5
Motherboard with NB, 2x NF200, and some losses in the CPU VRM circuitery (digital VRM usually is >90% efficient) = another 100W
2x GTX 260 in idle – 70W, fully loaded with GPUGrid, FAH or whatever = 350W
Add in another 50W for fans, a few HDDs and small stuff and you arrive at a theoretical peak draw of ~850W if everything is OCed to the brink and fully loaded.
Now, a Corsair HX 850 can handle around 1KW no problem. While crunching, you won’t exceed the 500W mark (factoring in the PSU’s efficiency maybe 550W from the wall, but that’s it).
1,2KW – sure, for benching.