Don't see why it shouldn't. A recommendation - save $20 or so and buy the Phenom II X4 955 instead, really just up the multiplier if you want Phenom II X4 965 performance. If you want to CrossFireX later on the ASRock 880G Extreme would probably be a better choice, if the GIGABYTE board does not currently have x8/x8 PCI-E lanes.
I have never tried OCing before, I guess I'll try it. Also for the board, the one I picked says "1 x PCI Express 2.0 x16 slot, running at x16 (PCIEX16)
1 x PCI Express 2.0 x16 slot, running at x4 (PCIEX4)". I have no idea what that means, it says it can Crossfire though. I was thinking of maybe down the road throwing in another 4850. Is the Motherboard you recommended better then the one I chose? Thanks for your help.
That means that the first lane operates at maximum bandwidth possible for a PCI-E 2.0 lane, while the second one operates at a quarter, x4 compared to x16, resulting in a loss of performance. x8 is OK for most cards, however x4 starts to show noticeable performance decreases in CrossFireX mode.