Summary: When I first opened the package and read "450W PSU" I was very sceptical if this unit could perform - and I was completely wrong. Certainly you should not power a GeForce 8800 GTX SLI rig with it, but you probably knew that. For a normal PC with a single graphics card it is absolutely sufficient. The attractive price of $75 makes this a great deal when building a new system.
What I found to be most impressive with the Corsair VX450W is that it is extremely quiet.
Pros: Very Quiet, Affordable, Extremely High efficiency, Cables sleeved, Stable, 5 Year warranty
Cons: 450W may not be enough for your needs, Not modular, Only one PCI-E power connector