Can I OC a PC with these specs?

alterock07

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Intel E7500 Core2Duo (2.93 Ghz) 1066MHz (3Mb) ($120.00)
ASUS P5KPL-AM EPU (1333MHz) ($56.00)
*I heard this (ASUS P5KPL-AM EPU) isn't good for OC. is it true?
2GB DDR2 PC800 Kingston
SATA 500Gb Seagate 7200rpm (32Mb?)
1 Gb Palit GF9500GT 128bit *I'd like to stick with NVidia
CPU Cooler: Coolermaster Hyper 212
650W Power Supply

I plan on building a budget pc with these specs which would cost me around $400.00 and then OC it for better performance. I'm just not sure if the mobo I chose is okay for overclocking. I chose these parts because they're cheap.

So..

Are the parts I chose okay for overclocking?..

And i know that each processor would vary from others, but can you give me a rough idea on how much speed i can POSSIBLY reach when i overclock this type of processor if I would limit at 65C temp?

Is the CPU Cooler okay?

Does anyone know of a link where an Overclock was made using this mobo? ASUS P5KPL-AM EPU


-Alterock07
 

alterock07

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Just in case you were wondering, I ended up with an i3 and an ATI graphics card.. :)
But yeah, AMD would is a good suggestion for budget PCs. thanks for the suggestion, btw.