I'm a newbie too but my 2 cents based on what I've learned so far.
You're much better off going with the 1200 watt PSU. If I were you, actually, I'd get 2 PSUs for 750W each and chain them together using an Add2PSU. Don't risk overloading your PSU or it could burn out, your GPU could burn out, both could burn out, or worse. I had it happen to me but luckily I caught it before any major damage was done. I use 3 PSUs (750W chained) now for my 5 GPUs. Overkill? Sure. But I have peace of mind