I'm assuming that this is an Intel Pentium 4 processor that we are referring to here.
The answer is: 'Sorta'
The 1.3ghz intel chip in there at the moment uses socket 423. All modern pentium 4s have now moved to socket 478, and consequently have more pins, are smaller, and don't fit the old sockets.
Hence, if you can get hold of a socket 423 pentium 4 chip for cheap, then go for it!