The lights are on
It is over priced. The processor is worth $100, the MB is $70, and the memory is worth roughly $50. So you are looking at $220 for the parts. The MB is a low end budget micro ATX board, it is not terrible but not something I would build a gaming PC around.
There are several of us here that can help get you going in the correct direction. First thing we need though is a budget, be it $400, $800, or $1200. We also need to know what all you need, ie do you need a monitor, keyboard, mouse, OS, speakers...and so on. Those items can really cut into a budget when you figure Win7 is going to run you roughly $100 and a good monitor is going to run you another $150ish.