The wattage rating is the maximum power draw that the power supply can supply. If the system only requires 200W, only 200W will be delivered by the power supply. It is recommended that the power supply rating be higher than what you expect to draw so that you never draw more than 80% of the total capacity. In other words, if you expect to draw 240W total, use a 300W power supply.
So, yes it is fine.
Dan
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Well... yes and no. It all depends on what else you plug in the system. 300W is plenty to run an AMD CPU, hard disk and integrated graphics and LAN. The motherboard by itself does not significantly change the equation.
But if you want to put in a heftier VGA - one of those requiring extra cooling because they're power hogs - for "serious" gaming, or a RAID caddie, or have many USB powered gimmicks plugged in, then 300W is cutting it pretty thin and I'd advise against. Know that most power supplies aren't really designed to be run at their maximum "official" output. While some brands such as Enermax, I found (at least for Europe - we've got 220V 50Hz) routinely underrate their products - I found 500W supplies quietly putting out 600W - many others just as routinely overrate them, and asking the full 300W out of such a 300W power supply is asking for trouble. Power fluctuations, random reboots, hangs, or even the power supply overheating and possibly burning out.
Check the power requirements of your intended CPU, HD and peripherals, allow 30W for the motherboard and figure a 25% margin on the power supply.
Check also out this page:
http://www.firingsquad.com/guides/power_supply/page2.asp
Have a nice day,
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