I ran a PCIe 2.0 card on an old motherboard with a PCIe x16 slot. It worked fine, the only problem would be bandwidth speed but that card shouldn't demand more bandwidth than a PCIe 1.0 x16 has to offer. Most cards are backwards compatible one generation at least. I would say it should work fine.
Thanks for your reply.
I think it should too, well at least I hope. This motherboard isn't bad and I'm running a core 2 duo xtreme quad-core cpu on it with 8gb of ram, but I doubt that matters. Also will be upgrading my power supply when I order the card.