300 watts

All i got is 300 watts on my xp 2400+. I dont know much about power supplys and if they effect performance. What can more power do and does more power increase performance?

A higher rated PSU may give you a bit more stability, as it won't let the voltages drop as much, under a higher load.

Read the lead post in this sticky thread by Larva: http://forum.oc-forums.com/vb/showthread.php?s=&threadid=150384

While your power supply uses the number 300 in its description, it is unlikely that it is actually 300 watt. Exceptions to this are listed in the link above. You will not see PERFORMANCE improve with better quality and quantity power, but STABILITY is likely to improve especially when overclocking.

A better psu can help improve performance in one way-
when overclocking you increase the load on your power supply and this can lead to the aforementioned stabilty issues.....

A psu with more headroom can give you the ability to overclock higher IF the rest of the system is up to it.

I have always liked the cheapo Compusa 350watt supplies for my Distributed Computing Farm rigs, and they do hold up pretty well under overclocked loads- BUT I have at least one right now that I KNOW is capable of more than it's doing right now....
A Fortron 350 is on the way to my house this week and I am hoping that will get my 5v line up past the danger zone: currently the 5v on that pc is at 4.86v And the chip will do 1.9Ghz but currently held to 1760.

If your 5v line is close to 4.84v it may well be dipping under and causing stability issues at a given speed; if that line was closer to 5 volts you might get a higher OC and better performance

Right now i think my brand of the psu is premier. Is powermax any good? Thanks everyone.

No idea how good those ATNG Premier units perform, but they seem ok in the construction department. I don't think Powmax would be a suitable replacement though - Fortron/Sparkle would be a far better value, or Antec/Channel Well.