Chip's power consumption is <6.6W/Ghs
ATX power loses(82%), DC/DC power loses(87%), Fan(5~20w), etc
So
650W * 0.82 * 0.87 - 20W =
443W, About right.
so an equivalent bfl number would be something like:
60w / .87 / .82 + 2W (fan) + 5W (host) = 91 W (host can be discounted for many since it can run several units)
or "bfl's worst case" 60W * 1.2 = 72W ===> 72w / .87 / .82 + 2W (fan) + 5W (host) = ~108W
BFL's single uses 72W
at the wall, there is no ATX psu or DC/DC or extra for fans etc, just the host usage to be added. All speculating of course coz it ain't alive yet, but it is definitely no 620W, or 108W.
@jgarzik, have you ran it without the ups to see if that isn't messing up? Checked/reseated internal connections, it has been on a long and bumpy ride?