Well I almost SURE its true, the PCI-E card will run at 4x since this mobo has an AGP port too. You have 2 options but because of that, reduced speed. Anyways I dont know if it is REALLY true since I did not check the ASROCK webpage.
They specified this mobo had a Physically 16x PCI-E port, but never mentioned the speed. they should have said something like 1 PCI-E port working at 16x or something like that.
I recommend you return that mid-range board and get something a little better. Looks like you dont need something too powerful, you can go with the P5N32-SLI SE which performs good.