The board is fine. It can run upto 800MHz. So get a faster P4, if you can find it and fast RAM to match and I thing you will see a difference.
You can get a 3.2GHz P4 at discountelectronics.com for $70 bucks. Or brand new in the box from other places for about $200 to $300
Wiley I had all kinds of problems when I was using ATI cards, since switching to Nvidia all problems went away.
Now the ATI is owned by AMD I have heard problems have got worse