If possible upgrade your RAM to 4GB DDR3 as that will boost your fps in games and overclock that cpu to 3.2ghz and you are fine
It's a DDR2 motherboard....
As far as the CPU goes, you'll most likely have trouble getting to 3.2 GHz with the stock cooler, and even if you do, it'll be running VERY hot. I would pick up an aftermarket cooler, the COOLER MASTER Hyper 212 is a cheap and effective solution. Outside of that, you should be fine, 650W should be more than enough to run the 560.