Well if you can during the summer, save the money up and purchase a good cpu under 125.00
I also recommend a different board, as that will be a key factor with making things less stressfull for you and the processor when everything is new or currently updated.
AM2+ mobo with newer am3 cpu's spells trouble these days for that type of combo.
Not that I am aware of. My wife's and her mom's computers are both AM2+ boards running AM3 CPUs. As long as the BIOS is updated to handle the chips then everything will run just fine.
What mobo are you running, c0rr0sive?