That "onboard processor" really mean onboard. It's soldered onto the mobo. I had a PC-CHIPS mobo with an onboard VIA C3 a while ago. The boards have zero overclocking options, but they are reliable as long as you know that they come with the clear CMOS jumper SET. I returned three PC-CHIPS boards to newegg because I though they were broken, I hadn't known about the jumper being set. You have to move the jumper before the board will boot.
That board/cpu combo doesn't have onboard video... you'd have to spend money on a vid card, but if all it's doing is folding you could just get a cheapo card.