Even if it worked today, the load on the PSU is far too close to its maximum total Watts as well as you would have to research what maximum Amperes each part will require. This is not as simple as it seems since a new 300Watt PSU can likely deliver 300 Watts. But in as little as a year be hard pressed for 200 Watts.
This is only one reason I oversize the PSU by about double the number of Watts I total up.
40 Watts for Abit AA8-Duramax
100 Peak Watts for P4 520 2.8 @ 3.73
20 each or 40 Peak for 2 x 256 DDR2 Kingston VRam
20 for each drive on average peak...
WD Caviar SE 160 GB
Maxline Plus II 250 GB SATA
Optorite DVD +/- RW
LG 52x CD-ROM
Seagate 36.6 GB SCSI U320
LSI Logic U320 Controller
100 total for drives and controllers.
Sapphire Radeon X600 Pro
Tend to get in the 50 Watt region.
Floppy Drive 1 Watt...
That's about 310 peak watts. Since we can't get the exact Amperes for each supply line, I'd get the 450 Watt PSU to keep out of trouble.
Bob

Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic