At that budget you need to take a very different route. The power supply is the very last place you want to try to cut corners, also.
The board you chose will not overclock. The CPU is nice, but you would need to pair it with a more expensive MB. By using an AMD processor and board, you can save the money you need to save for an adequate power supply and case. Also you can get a better HDD.
I note that you did not include an operating system in your list. Perhaps you will use Linux?