I would avoid that motherboard with the NVidia chipset. If you're looking for a bargain basement socket-AM3 motherboard, how about this ASRock 880GM-LE
for $60? It has only two memory slots and it uses the older SB710 southbridge, but it supports 125-watt Deneb and Thuban processors. Equip it with a processor and a pair of DDR3 DIMMs and you could use the on-board graphics with DVI output until you could afford to add a capable 3D gaming graphics card like a Radeon HD6850 ($160 -20MIR) or HD6870 ($175 -20MIR) or a GeForce GTX560 ($185 -30MIR).
If you save up until you can afford a PCIe graphics card at the same time as the motherboard, processor and memory, this socket-AM3+ Gigabyte GA-970A-D3
for $88 -10MIR could be a good choice.
i7-2600K, H70, P8P67-M Pro, 16 GiB, HD7950, SSD, 3 HD, Blu-ray, X-Fi Ti Pro, Antec P182, S75CF, 3007WFP+2001FP, RK-9000BR, MX518
i5-3570K, GeminII-S524, P8Z77-M Pro, 16 GiB, HD7770, SSD, 2 HD, Blu-ray, InifiniTV4, NSK2480, 55" TV; Asus UX32VD