Upgrading my Mobo/CPU

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Hey there, I got told by a friend to make a post here first to make sure I'm not making a horrible mistake by upgrading my Mobo and CPU and blowing my computer up.

I'm looking to upgrade my old Pentium 4 3.4 ghz processor to an AMD Dual Core 3ghz (Links provided below), but I'm also probably gonna pick myself up a new motherboard aswell (Links below)

Motherboard
http://www.overclockers.co.uk/showproduct.php?prodid=MB-130-AB

CPU
http://www.overclockers.co.uk/showproduct.php?prodid=CP-195-AM&groupid=701&catid=6&subcat=803

My current setup, as provided by Everest, is as follows

Computer:
Operating System: Microsoft Windows XP Professional
OS Service Pack : Service Pack 2
DirectX : 4.09.00.0904 (DirectX 9.0c)

Motherboard:
CPU Type: Intel Pentium 4, 3066 MHz (23 x 133)
Motherboard Name: Gigabyte GA-8I915PM (2 PCI, 1 PCI-E x1, 1 PCI-E x16, 4 DDR DIMM, Audio, LAN)
Motherboard Chipset: Intel Grantsdale i915P
System Memory: 2560 MB (DDR2-533 DDR2 SDRAM)
BIOS Type: Award Medallion (09/17/05)
Communication Port : Communications Port (COM1)
Communication Port : Communications Port (COM2)
Communication Port : ECP Printer Port (LPT1)

Display:
Video Adapter: NVIDIA GeForce 7600 GS (256 MB)
Monitor: Plug and Play Monitor [NoDB] (63804644)

Multimedia
Audio Adapter: Intel 82801FB ICH6 - High Definition Audio Controller [B-1]

Storage:
IDE Controller : Standard Dual Channel PCI IDE Controller
Floppy Drive : Floppy disk drive
Disk Drive : WDC WD2500KS-00MJB0 (232 GB, IDE)
Optical Drive : _NEC DVD_RW ND-3550A
SMART Hard Disks Status : OK

Input:
Keyboard: Microsoft eHome Remote Control Keyboard keys
Keyboard : Standard 101/102-Key or Microsoft Natural PS/2 Keyboard
Mouse : HID-compliant mouse

Network:
Network Adapter : Realtek RTL8139 Family PCI Fast Ethernet NIC

Peripherals
Printer : Microsoft Office Document Image Writer
USB1 Controller : Intel 82801FB ICH6 - USB Universal Host Controller [B-1]
USB1 Controller : Intel 82801FB ICH6 - USB Universal Host Controller [B-1]
USB1 Controller : Intel 82801FB ICH6 - USB Universal Host Controller [B-1]
USB1 Controller : Intel 82801FB ICH6 - USB Universal Host Controller [B-1]
USB2 Controller: Intel 82801FB ICH6 - Enhanced USB2 Controller [B-1]
USB Device : eHome Infrared Receiver
USB Device : USB Human Interface Device

I'm an IT student and I know how to install it all, but can anyone here see if there are any potentially hazardous problems that I've failed to see?
 
Any personal opinion on which power supply then?

It's been something I've been meaning to look at for a while, since I've already had one blow up on me (Shop bought PC oh roffles) and had to get it replaced (Yay guarantee)
 
Antec, CoolerMaster, PC Power and Supply (the best, but expensive), Sparkle, FSB, Fortron, Thermaltake, Ultra V, Ultra XVS, Raidmax, Logisys, Apevia, VIA, Corsair, Xion Supernova, FSP, Group, Cool Max... there are many...
When you tear apart power supplies, you realize that most of the 129 brands and models are really made by less than 10 or 12 companies... and then marketed under a great number of names.
Power output is not nearly as important as steady output, which means you need a quality unit.
We have never had a Sparkle, or a FSP Group/Fortron or go bad, so we use them a great deal... But our favorites are made by PC Power and Cooling. When we become very rich, those are the only ones we will use.
 
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