Maybe, but it's not really much of an upgrade (200Mhz, so basically worthless) and it would have to be the non Black Edition (almost definitely. You couldn't OC anyway with that board).
My wife's got a Dell Dimension 8400 (circa 2002) with a Pentium IV 3.2 GHz chip. I'm too cheap to get her a new one! It does what she needs it to, though.