my current setup is an e4600 - with a small overclock an 8800gt 256mb and i'm using a Be quiet Dark Power Pro 450w which is SLi certified. I've got a wattage monitor on my system which says under full load (smp & gpu folding) the max draw is 220w. Will adding another 8800gt be ok? it shouldn't use more than 350w but as nvidia keep insisting on a 500w psu, will i be ok?
Sorry, I don't think that's enough. At worst you will need to have a new psu anyway. That is, unless you plan to have the 8800 within its exchange period if it's defective. Rushing to get a psu before that time expires will be the only way to keep your exchange period intact. With that in mind, it would be a good idea which psu you want in advance. That should include time to hassle with a bad psu if you get a double whammy. After that window closes, you would need to go through a warranty.
I'm inclined to agree with Gooey_GUI on this. Try going to the Be Quiet! site and try the PSU Calculator they have. It will give you a rough idea as to what your requirements may be.