Question, What are you going to do with it? Game or work with it? How you answer that should affect how we perceive this build.
I would say It's not a great build, because your building a computer that is already obsolete. This might get you by for now, but the lack of certain features might cause problems in the future. I would try to get at least a mobo with sata III and USB 3. These might not be important now, but their importance will only increase as time goes on. Is that PCIe *16 1.0??? What I see here is a motherboard that will probably be replaced in a few years instead of having good upgrade options. Try to find an AM3+ motherboard so you could upgrade to a Bulldozer processor later.
I would ditch the coolmax PSU. It has more 1 egg comments than 5 egg coments on newegg. Going cheap with the PSU is not wise and can be dangerous. Although I don't see comments of it taking out other components yet, there are plenty of issues in the comments for me to shy away from this brand. I would try a Corsair, Seasonic, Antec, or Xigmatek PSU. More expensive, but much more reliable in their PSUs.
If you want to game at 1080P, I would at least get a regular 460. I don't know what SE is, but a regular 460 is better. For lower resolutions, the SE might be ok.
A phenom ii x4 955 is not that much more expensive, but should be a noticeably better processor.