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No it isn't compatible. The motherboard you picked out does not take IDE drives, you need to pick out a SATA drive. I'm guessing you are reusing a PSU aswell, but other than the Storage drive, looks good.
EDIT: NVM case has a psu my bad
I would not trust that PSU, pull out a few more bucks and buy a quality unit.
here is a better build...
http://www.newegg.com/Product/Product.aspx?Item=N82E16827106276
http://www.newegg.com/Product/Product.aspx?Item=N82E16811154109 http://www.newegg.com/Product/Product.aspx?Item=N82E16817371003
http://www.newegg.com/Product/Product.aspx?Item=N82E16820231394
http://www.newegg.com/Product/Product.aspx?Item=N82E16822136564 (i know its a laptop hdd, but that way its a bit cheaper...)
http://www.newegg.com/Product/ComboDealDetails.aspx?ItemList=Combo.915538 (this processor is going to be better at single or dual threaded applications (perfect for internet).
I like that setup but I need a mobo with onboard video. Te sandy bridge / mobo combo does not have onboard video for $114