Is this RAM compatible with this mother board ?

Crucial supplies the answer.

http://www.crucial.com/index.asp

According to Crucial, the BL2KIT12864AA804 is compatible. Is that the model you bought?

Timings 4-4-4-12 with the voltage of 2.2.

I would guess, if Crucial says it will work, it will.
Your mobo will likely default to 5-5-5-15 and 1.8x voltage - in that case you will have to manually override to 4-4-4-12 and 2.2 voltage.
Take the voltage seriously, I missed it at first on my system and had major instability problems, until I set the correct voltage.

And by the way, the disclaimer you refer to:
"Only DDR2-800 memory supporting JEDEC approved 1.8V operation with timings of 5-5-5 or 6-6-6 is supported on Intel Desktop Boards based on Intel 965 Express Chipsets."

Where did you see that - on the memory product page or the motherboard page?
Sounds belony - never heard of that limitation and I cannot but believe many are running 4-4-4-12 on this chipset which is very popular!
What could be meant is that there is this limitation on motherboards from specifically Intel (which is called Intel Desktop Boards) with the G965. But this would make sense only if the disclaimer was listed on the memory product page.

Thanks for the replies. Yes, that is the one (BL2KIT12864AA804) I bought. Yes, I saw in Crucial website that it works with the mobo. However, may be a stupid question- how do you `manually override' to 4-4-4-12 and 2.2 Voltage ?. Can this be done in BIOS, or do I have to change some jumper setting or something like that ?. Also, will the system even go to BIOS if the RAM settings are not correct ?. Sorry if this is a dumb question. Thanks,

NOT a stupid question!
The memory timings and voltage are specified in BIOS, so yes, you do it there.
Usually it will be set to "Automatic" - change it to "Manual" and change the values.
After that, you could run memtest86+ just to make sure the memory is working optimal.

Oh and yes, the system can go to BIOS with the "wrong" RAM settings. They're actually not really wrong or incorrect, just not optimal.
If the RAM was malfunctioning/defect, it's another matter, you probably wouldn't be able to enter BIOS but would get POST error messages instead.

All 965 chipsets have that little disclaimer. Fortunately, memory manufacturers include SPD timings that go along with that statement. It doesn't matter if you buy PC2-8000 or PC2-5300, it will initially boot up at a slower speed or timings at 1.8V. You must manually enter speed, timings, and voltage for high performance RAM. Don't worry about the RAM not working because of the disclaimer.

Thanks a bunch !. Now I can put my RAM worries to rest. (Even if some problem occurs, I understand there are people out there to help  )

I ordered this mobo and the RAM. It is on the way. However, while reading the newegg reviews for the mobo, I see that many people say that there is no voltage control in the BIOS. In that case, I may not be able to jack the voltage to 2.2 V as needed by the RAM ?. Apparently, there is a utility - outside the BIOS- which can be used to change the voltages. If I am lucky- I guess one will be able to set the correct voltage for the RAM, but probably this board doesn't allow setting voltage for the CPU (which I don't care). Any one have this board ?.