Any compatibility issues with these parts?

Upgrading some components in my PC and just want to double check with you guys that there won't be any issues with these parts working together:

GIGABYTE GA-EP35-DS3L LGA 775 Intel P35 ATX Intel
Motherboard

OCZ GameXStream OCZ700GXSSLI 700W ATX12V Power
Supply

Intel Core 2 Duo E8400 Wolfdale 3.0GHz LGA 775 65W
Dual-Core Processor Model BX80570E8400

My video card right now is an old x1950 pro 512 PCI-e, but I'm upgrading it as well soon so I want to make sure the power supply will support a video card upgrade etc. Also does the E8400 processor require any additional cooling? How is the stock on that?

Any foreseeable problems with these? I've been known to make mistakes so I appreciate your help!

Okay here is what I'd consider:
* Arctic Freezer 7 pro is for Intel chips.
$29 shipped (newegg is $34 shipped right now)
Arctic Cooling Freezer 7 Pro CPU Fan For Intel CPU

* If your case can fit this HSF, than I'd get it over almost any out there. It'll cool really well and if you OC your chip it's one of the best out there for the $.
$37 shipped at Newegg!
XIGMATEK HDT-S1283 120mm Rifle CPU Cooler - Retail

* On the PSU side I'd consider the Corsair 650tx model. It has 52A on the 12v rail (yours has about 43A on the combined rails). The Corsair also has 2x6+2pin PCI-e power connectors, the OCZ's only has 2x6 pin PCI-e power connectors. More and more GPU's are requireing 8 pin power connectors (see 9800gtx), so to future proof your build better you should consider the Corsair 650tx or even the 750tx (which has 60A on the 12V rail and 4x6+2 pin PCI-e power connectors). You can decide, but I'd at least go with Corsair 650tx. The Corsair models also come with 5 yr. warranties and the OCZ only comes with a 3 yr. warranty.
$110 - $20 MIR = $90!!
CORSAIR CMPSU-650TX 650W ATX12V / EPS12V Power Supply 100 - 240 V UL, CE, CB, TUV, FCC, CCC - Retail
$130 - $10 MIR = $120!!!
CORSAIR CMPSU-750TX 750W ATX12V / EPS12V Power Supply 100 - 240 V UL, CE, CB, TUV, FCC, CCC - Retail

Thanks for the recommendations guys. I took your advice and ordered just now. This PC is being rebuilt for my 8 year old son's sudden PC gaming addiction (the only way I can get him off my own PC). I don't trust the stock HSF either, so I just hope the Freezer is not as much of a PITA to mount as some I've had before.