Yes, those work together
Cpu's are called processors, chipsets are usually permanently mounted on the motherboard.
The board you selected uses the amd 770 northbridge and amd 710 southbridge chipset's.
The answer to your question is yes. But I do not see those two as the ideal combination. If you will tell us what you intend to do, either (a) Build a new PC with all new components or (c) just upgrade an existing build, we can help you more towards making the most of your PC purchase.
Really the only thing that I need in the new mobo is the am3 slot to work with higher tech processors while keeping ddr2 ram I am currently using.
if you're sure that amount of RAM works for you (and it works with your new mobo) and all you want is to replace your mobo all you technically need to do is make sure you get a case that works. I've heard Dell has some odd shaped MOBOs so it might not fit- i'm not sure. But to be on the safe side why not just add in a ATX case and a PSU? I've seen Antec BASIQ PSU 350w PSU that are cheap + u can find a case for really cheap. Then you can just use your hdd, ram, dvd, and video card from your current computer. It would add about $80
You would essentially get a new computer and your case would remove future expansion limitations. Don't go too excited though b/c i think the case i showed you would have a greater expansion capability than your current one but not unlimited lol
One thing to keep in mind is your OS. if your OS is OEM from Dell then I'm pretty sure you won't be able to change MOBO+CPU b/c the OS will lock up. But someone else might be able to help you get around that issue. I once had sony desktop and it got a new mobo and XP wouldn't update anymore and all sorts of funny things happend but I called MS and they fixed the validation issues but I never told them I got a new mobo (they didn't ask )
btw I've only built one computer so I'm not a pro. If any body finds a flaw with my theory feel free to point it out - just trying to help