Homebuild compatibility questions and taking suggestions.

Ok, so I'm basically upgrading my current PC in a dramatic way. New Mobo, CPU, RAM, and PSU.

My current setup is a basic Dell Inspiron 531 with a XFX Radeon HD 5670 dropped in.

This are the parts I have come up with to use in my upgrade through my own research:
MSI 870S-G54 AM3 AMD 870 SATA 6Gb/s ATX AMD Motherboard
AMD Phenom II X2 555 Black Edition Callisto 3.2GHz
G.SKILL Value Series 8GB (2 x 4GB) 240-Pin DDR3 SDRAM DDR3 1333 (PC3 10600)
Enermax 450W PSU
So my questions are: Will all of these things work properly together? Can I keep the hard drive I have now, or does that need to be replaced too? Would I be better off doing something else, like just upgrading the CPU, or buying completely different products?

Need some Tomshardware input before I go ahead and purchase these. I will be buying sometime in November, and I live in the US.(Random info I thought I'd add.)
Thanks in advance for the help. :)
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More about homebuild compatibility questions taking suggestions
  1. The parts you have chosen will work together, however if your getting a new Mobo, CPU, Ram and PSU - that's almost a whole system. [missing the OS, new GPU and peripherals]

    Depending on your needs/uses for your PC, it's actually much more economical to save up a little more build a whole new system. I don't mean to offend you but your current system is at a point that any investment into it will have diminishing returns. And the parts you have chosen aren't bad for your current system - they simply don't have a great price vs performance ratio which will also translate to poor performance gain in practice.
    It doesn't cost much more to get a whole lot more performance and bang for your buck; I'm not even talking about high-end hardware or ridiculous $2000 PC build budgets.

    Take some time to think about it and tell me your current budget - it's much better to build a whole new PC than to upgrade something that's of age.
    And Since you live in the States and plan to make your purchase in November, I'm assuming your waiting for the Black Friday sale??

  2. By buying a new CPU, MoBo, RAM, and PSU I basically am building a new machine, short of an HDD and Optical Drive. I don't see how this upgrade could possible leave me short of buying a new PC in terms of performance. The GPU is just shy of 2 months old. The other components don't need replacing as far as I'm concerned. The HDD has everything I need and I don't plan on dishing out too much money for an SSD. I rarely use the Optical Drive, so replacing/upgrading it is pointless.
    The way I see it, I'm only short a new build by the hard drive and case.
    Also, I was not waiting for the Black Friday sale, but if Newegg usually has one, I definitely will.
  3. I suggest buying a 900-series mobo, an X4 CPU and a quality PSU. 1600 MHz RAM is only a couple of dollars more.
  4. I thought Enermax was a quality brand? :o
  5. Also, can I keep the same hard drive and just pop in this other new hardware and expect it to boot, or is there something I need to do first?
  6. Also, I'm not sure if that mobo takes 1600? Thought you had to buy 1333 and overclock it to get 1600.
  7. Not sure if I can bump this, but I'm going to. :)
  8. Can anyone answer these questions for me? =\
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