The PSU is definitely something you don't want to skip out on quality.
I would recommend something made by either Corsair or possibly Antec, as I have used both brands with no problems yet.
What sort of components will he be using? If he is planning on using power hungry/multiple video cards etc it will weigh heavily on the wattage and amperage needed on certain rails.
Newegg.com - CORSAIR CMPSU-550VX 550W ATX12V V2.2 SLI Ready CrossFire Ready 80 PLUS Certified Active PFC Compatible with Core i7 Power Supply - Power Supplies
Maybe something like this could fit into your budget?
EDIT: As far as your question about the colored connectors, that is generally just a color. As long as it has the correct size power pin, and enough pci-e/sata/molex connectors for your build, the color has nothing to do with it.
Unless I am misunderstanding your question?