Thank you!
I do agree that PSU #1 running 888W at the wall and 773W to the components is close to 850W. So i've gone ahead and undervolted the cards to 1137mV and I'm testing.
I'm happy to say that PSU #1 is now running at ~800W at the wall, which would make it 696W to the two cards, mobo, risers. Does that sound better? Should I move some risers to the other PSU? I'm just afraid of problems involved with that.
Also, do you think it's possible that by overloading PSU#1...it could have killed PSU#2?