It is compatible, but that Micro-ATX mainboard doesn't have all of the overclocking or voltage options in the BIOS. When it first came out, it was missing a lot of options and they have added some back with BIOS updates, but there are still some that aren't there. I would suggest one of ASUS' full-ATX boards, like the P8P67 (regular) or P8P67 Pro.
^+ i agree with Leaps!
Not too crazy about the mediocre 1000W psu which you don't need btw.
A good quality brand 650W is more then enough if you're not going to xfire and more efficient=80+Bronze
XFX,Corsair,and Antec provide such units at reasonable prices.