exactly that, a $39 mobo would be fine <maybe> for a stock setup...
but you'll be dissappointed overall.
check pricewatch.com for a barebones system.
compgeeks.com sells a few, and they're a good company.
basics: case, ATX w/300wt psu <a definite>
cdrom 40x, a floppy, kybd + mouse, some spkrs.
in a barebone kit, it'll just be Basic stuff, but it's a cost effective way to get what you need. i notice they had a kit with a S3 Savage4 vid card, and one with a DVD... those are perks worth considering, but read on...
then i'd suggest newegg.com for mobo's. i just bought my iwill there, cheapest price and awesome service.
far as chips go, why a slot? and in prices, why not Duron?
they are harder to cool, but O/C better IMO and cost less.
so i'd say no integrated mobo, find a KT133A chipset.
epox, abit, iwill, gigabyte, or asus are the only mfr's i'd consider personally.
just because i've heard many good things. Tekram was good to my K6-2 also.
next, buy a duron 700, less than $40, better than 750's for some reason
600's even better.. dont ask me why, i'm confused by it too.
now, get a globalwin hsk/fan. fop38 for the $24 seems unbeatable.
Vantec has a good one too, for a bit less... but i believe fop38 beats it.
video cards are cheap for a good one, i recommend a GeForce 32mb AGP
i'm real happy, and it can be O/C'd... onboard video will dissappoint. my vid was $70 but i think they're less now.
for all intents and purposes, 128-256mb PC133 is all you need for RAM.
i've read so much about this, i hafta believe it's true. you can save cash there.
sound, well.. the iwill boards have great onboard... this is the only onboard function i will accept on a rig. i guess if you go this route it'll save some cash.
i suppose if you just want a box, you can go with buying an all-in-one board adding a cpu and be all set, but it won't O/C and if something takes a crap on you.... you cant pull the card out and replace it. so lets say its the video...
well, you're pretty much gonna end up buying all that stuff mentioned above anyhow! my best advice to you, coming from one who is on a seriously low budget also, do it right the first time! don't waste alot or any cash, finding all this out the hard way.
because of reading, and advice from others.. i've never regretted a single purchase. but this could have easily gone the other way. a PCCHIPS combo mobo, proc, and everything all in one package for $80 sounds sweet!!! but think about it... how sweet can it be for that price? theres always a reason why cheap is cheap bro!
good luck to you!