My main concern is that if I plugged it in today, at .7 BTC it would only stay profitable until approximately early July and would only generate about $700 (1 BTC - energy costs) before the energy costs exceed BTC production. If I pay .7 BTC (approx $560) and then also have to buy a PSU for about $60, that leaves essentially no profit margin.

Profit calculations: http://btcinvest.net/en/bitcoin-mining-profit-calculator.php?diff=1789546951&dcosts=610&diff_mincrease=25&blpbtc=25&dhsmhs=60000&diff_mincreasedecrease=1&btcusd=820&dpowcon=275&btcusd_mincrease=1&pcost=.1210&calcweeks=45&dleadtime=0&action=calc