You may want to think about this one:
http://legitreviews.com/article.php?aid=116
ABIT AV8 - Socket 939
it's got 8x AGP, 4 DDR 400 (PC 3200) ram slots, IDE and SATA connectors so you will be able to upgrade to faster and larger hard drives in the future, or use your existing drives, and finding a processor shouldn't be too bad at all. You can get by on a generic 350 watt power supply (~$20?) until you are ready to go to something bigger. A case, you can go generic, or something spiffy. Just make sure you put enough fans in it. A DvD burner/ CD burner these days runs literally $35-65, depending on when you buy them, or your existing drives will work fine.
http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=1221575&CatId=1683
My advice would be to hold off on the upgrade for another pay period and get some funds to get the above or similar bareboes kit. For your additional $200, you will get a much better overall system that will last you at least a year longer than that other one easily.