Well, I had a couple of 600 watt White Lightnings X1600's that I shot thru a double diffusion Photoflex medium softbox and I was always in the lower power range of the 2 closer to the weak end. I was shooting at about 8-9 ft away for a full length. I feel that 400 to 500 should cover well, especially if your doing alot of head and shoulders, as a soft box is softer at closer working distances, and you'll blow the sitters eye's out, so you have to dial it down. I prefered to shoot around F8, even F5.6 (with 35mm) because of this. One problem I had was I couldn't get the dark background far enough back at 5ft and got some light spill so be mindful.
Personally I prefer outdoor portraits. It's a little hard in the heat of the summer, but much cheaper to get started. For outdoor stuff a little fill light is all you generally need. Because of this I have since gone to battery dependent flashes which are also nice for in home setups during the rainy and hot months. Light packages that are small to carry and fast to set up are the way to go as far as I am concerned. You'll never know where you'll have to setup to shoot, so don't think that your always going to stay planted in a studio. In fact, I'd buy with traveling in mind and use them in a studio.
The WL's are a really nice kit and their literature that's available titled "Lighting For Still Photography" is the best information I have ever read on the subject of studio flash techniques. Btw, their support is the best.