yea it will work with that mobo, but try and get another 50 bucks or so at least in on the video card.
also, now your memory wont work with that motherboard, the one you just posted is DDR2 667, the one you selected is DDR 400 it will not fit so you need to change that.
something along these lines http://www.newegg.com/Product/Produc...82E16820141188
and that would save you 40 or so and put it into the vid card.
thats a tough budget tho for a c2d, id take jorsofts advice and go with a different chip.