You will need an external cable modem. Not sure why the article says you won't need a modem. Even IF it had a modem, that would be for dial-up.
The graphics card will be no no problem.
You may want to look into other MB with the Nforce2 chipset, I've had bad luck with multiple Biostar MBs in the past. Mostly with the on-board NICs failing. But I'm sure they aren't all bad.
<A HREF="http://www.anandtech.com/mysystemrig.html?id=23900" target="_new">System</A>
<A HREF="http://service.futuremark.com/compare?2k3=2072215" target="_new">3DMark03</A>