A lot of the time, motherboards don't have any issue supporting most GPU's. So long as the power supply can support the needed power.
You may want to make sure that you have the necessary connectors in terms of VGA connectors.
The CPU will definitely throttle your performance but that's not to say that you will necessarily have bad performance. Games that run on primarily a GPU would probably do fine, while games that allocate more of the load to the CPU might feel a little challenging.
edit: That power supply should do just fine.