Good to know. I didn't think those numbers sounded right...
Check out the one I linked (here it is again). I've found it to be pretty accurate for what you actually need. It also has a pretty comprehensive library of known parts, and gives you lots of options for setting up your calculation, so you can actually simulate your real system, instead of just something in the general ballpark. It still goes a bit higher than absolutely necessary, but not much. For example, my system (as of the last time I was monitoring it) would pull around 250W max, during heavy use. Plugging in the specs for my system as of that time into that calculator gives a 'minimum' of 315W and a recommended of 365W. By comparison, the Newegg calculator says 501W. I actually ran a 750W (upgrading to a 1000W once I get it put back together, in anticipation of new hardware later this year), so more than enough for any of those estimates, but I ran basically the same hardware on a 500W for about a year and it was perfectly fine (left the 500W behind because I had shortened the cables and I moved to a new case, not because I really needed more power).
I agree that most online PSU calculators are junk though. My general rule of thumb is that if it was made by anyone who makes or sells PSUs to ignore it.