Most definetly not, and I'm looking at that AMD Phenom 9500, not that it wouldn't be compatible but it is hefty bottleneck on performance.
You also need at least a 1.1 PCI-Express x16 slot on your motherboard to utilize sufficient bandwidth from that card, and you haven't listed your motherboard I couldn't say.
I say if you are going to shoot for the 480, I'd only buy it if it was around $140 or so. It has great performance at that price but I would discount it's validity based on its insane heat and power consumption. Another concern would be what is your current power supply?
What I would recommend is savin up for a new computer build that would include that graphics card (if you are still partial to it). Otherwise it will stick out like a sore thumb of disproportionate power as the CPU will bottleneck you making the 480 pointless
So what games would i be able to play with this card and what i have (yes i have the x16 pci slot) games such as starcraft 2 and league of legends? And what would i have to upgrade? The amd phenom? If so what card under 200 would fit this and be at its maximum potential?
I would probably just pick up the 480 GTX, I actually was looking into them a month or two ago and some on ebay were for around $150 which is great price. Also the 570 GTX and 6950 are in that neighborhood. Even if you won't get the full potential out of those cards, if you ever upgrade your rig within the next year or so they will all still be good viable cards. Also, I'd wait until after christmas because prices will go down, people are capitolizing on people's consumer habits at this time XD haha