Hey there kamicosby,
What are you using that computer for? What us your upgrade budget?
Is that a 8GB DDR3 RAM memory? If it works at just 800MHz, I would say that would be your bottleneck.
That i5 is pretty obsolete but still good at 4.5GHz.
Your MOBO is pretty solid.
The rest of your parts are good.
Depending on your budget, I would suggest to first upgrade your RAM to 2x4GB (or 2x8GB - depending on your needs and budget) and then think of a new CPU (if you'd like to stick to i5, I would suggest checking out 4690k).
Hope this helps,
Captain_WD.