Built a CPU last winter...[PSU problems]

[Gundamflare]

It's been about 3 and a half months since I built this computer, specs below:

PC-65B BLK ALUMINUM RT
MB ABIT AB9 P965 775
VGA EVGA 7950GT
PSU COOLMAX 700W RT
CPU INTEL 2.4G 775 4M R
MEM 1GX2|CRUCIAL
HD 250G|WD 7K 8M SATA2 WD2500JS
DVD-ROM SONY 16X DDU1615/B2s
DVD_BURN LG|GSAH22N BK RA

A couple of months after that, the PSU gave out, what happened was, when I came home, the computer beeped once, then shut off..the standby lights shortly followed.

I RMA'd the PSU thinking it was the cause, but today, I raise suspicions...because it happened again, while my computer was on. As I was sitting in my room, the computer turned off and wouldn't turn back on, no standby lights...could this be a second faulty PSU? do I not have enough energy to power my computer (which is kind of ridiculous..700w should be more than sufficient.)

Any ideas? Thoughts? Concerns? Thanks in advance,
Kesh

[YARDofSTUF]

700 watts is overkill, its enough.

Make sure theres no power cable hitting bare metal. I've had a floppy drive short out a system too.