Experts opinion needed! (Intel Dual core // Asus mainboard)

Hi everyone!

I have some questions about a configuration our friend Paul suggested:
the ASUS P5P800-VM Socket T (LGA 775) Intel 865G
http://usa.asus.com/products4.aspx?modelmenu=2&model=1079&l1=3&l2=11&l3=0

and the Intel Pentium D 805
http://processorfinder.intel.com/scripts/details.asp?sSpec=SL8ZH&Find=True&OrdCode=BX80551PE2666FN
I have here some characteristics:

For the Asus mainboard:

- LGA775 socket for Intel® 65nm Pentium D/Pentium 4/Celeron CPU
- Intel 865G + Intel ICH5
- 800/ 533 MHz
- Dual-channel DDR400
- Intel® Extreme Graphics 2
- 1 x AGP 8X
- 2 *ATA133 ,2 x SATA
- 10/100 LAN
- 6-Channel audio

For the intel processor:
Results

- Processor Frequency 2.66 GHz CPUID
- Package Type 775 pin
- Bus Speed 533 MHz
- Thermal Guideline 95.0W
- Core Stepping
- L2 Cache Size 2 MB
- L2 Cache Speed 2.66 GHz

Anybody had experience with this configuration or part of it???
I want to add memory I was thinking in Kingston ValueRAM 512MB 184-Pin
DDR SDRAM DDR 400 (PC 3200) Unbuffered System Memory Model KVR400/512R
($38.99)

would they work together???

I found also a HDD Maxtor DiamondMax 10 6L080P0 80GB 7200 RPM IDE Ultra
ATA133 Hard Drive - OEM ($49.99)

any suggestion about this configuration??? would it work fine for an
student (I'm think it should last for at least 3 years)

Any experience with http://www.chiefvalue.com???

Any suggestion about this base-configuration???

What is overclocking and how it work??? I recently read about it, but I
need more information please...


Thank you,

Peter

.

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