Partial New Build (i5 Ivy questions)

So I'm going to be doing a partial rebuild on my roughly 1yr old gaming PC.
I'll be keeping the RAM, PSU, Windows 7 OEM, and DVD Drive. These are those parts:

Corsair Vengeance 2 X 4GB Ram (should be 1600mhz)
CX430 PSU (not high power but it will be enough)
Asus DVD Burner (its a disc drive. Not much to say here)
Windows 7 OEM (thoughts on transferring this by deactivating current one?)

I have some parts ordered but they've yet to ship, and others I have received.
Those parts are:

VisionTek 7850 2GB
Fractal Core 1000 case
Samsung 830 128GB SSD

So that leaves me needing a motherboard and CPU.
I'm thinking of an i5 Ivy Bridge, and I don't have strong preference either way here so I'll probably just wait for a deal on any variant. Without a deal I'll probably pick up the i5-3350P model.

Now the Fractal Core 1000 can only support MicroATX boards, so what I'm thinking is this AsRock B75 Motherboard:
http://www.newegg.com/Product/Product.aspx?Item=N82E16813157335

Now I understand the P variants of the i5 are locked, but I've heard they can still be OC'd some:
http://www.pcper.com/reviews/Processors/Intel-Core-i5-3350P-Ivy-Bridge-Processor-Review-No-Integrated-Graphics/Overclocki

Would that be possible here with that motherboard?
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  1. imo, just go for 3470 and H77 board
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