Oh yeah, and after looking at the manual and specs for the power supply the OP bought. There is no way it will work.
The EVGA 750w G1 unit that the OP bought is divided into 4 12v virtual rails, each has an OCP maximum of 20A. The VGA connectors run of 12v2 and 12v4, so only 2 of the rails are available for GPU power. That is only 480w. So you are either going to end up pulling an assload of power through the 24-Pin(
which is bad) or the OCP will end up shutting the system down.
I am running a 295x2 and an overclocked 4930K with this EXACT PSU people. It works just fine.
Not the exact same PSU. You've got the G2, which uses a single 12v rail, he bought the G1 which uses a split 12v rail with OCP protection limiting current to 20A. In situations like this, it makes a massive difference.
Furthurmore, your G2 can provide 748w on the 12v rail, which is why it doesn't trigger the protection when you are pulling 747w. The OP's G1 can only provide 732w on the 12v rail, so even if it was a single rail design, it would still trigger the protection and kick off.