If it's the same socket type as the motherboard, then it is compatible.
In general, speeds like what you're talking about don't determine compatibility (though it is important to note that there aren't any 66Mhz DDR ram modules out there)
Seriously, if you're going to get a new processor and board, don't get that socket type. It's already dead.
You should also stay away from OEM stuff when it pertains to vital hardware (CPU, Memory, GPU, Motherboard/Chipset), you want a warranty on those types of things. Most of those are only 2 to 3 years as it is.
If you want any sort of longevity, you need to spend a little more than $150 range. The other issue is that right now there are a lot of legacy issues. AGP, DDR, and 754/939 are all being extinguished. This is a really bad time to do a "minor" upgrade from 3 year old systems. The physical connections are drastically different. Right now is a "Major" upgrade period (has been for about a year).
If you can't spend enough to really build a system, then don't waste your money (buying dead technology to
try to upgrade is frivolous). Just wait until you can.
Again, I mentioned that for under $500, right now, you can build a decent system (one that's actually moderately better than mine).
MSI AM2 Socket, nForce 500 SLI chipset (2-3 Year warranty)
Athlon 64 X2 3800+ Processor (3 Year Warranty)
1GB DDR2 800 (PC2 6400) Memory (Lifetime Warranty)
EVGA GeForce 8800 GTS 320MB Graphics Card (Lifetime Warranty) [Note: I'd go with the BFG, but it's more than $100 more expensive!]
So, it's not impossible to do some upgrading on a thin budget. You could even massively modify this set up to get something affordable that can be upgraded later.
I remember some BFG GeForce 7600GT cards being sold for under $100! I would imagine they're still under $200 (And they are).
Just don't try to buy shoddy parts to impulsively upgrade at the moment.
In fact, here:
Board:
MSI K9N Neo-F nForce 550 $73 (2 Year Warranty)
CPU:
AMD Athlon 64 X2 3600+ $89 (Only $14 more expensive than a 3200 single core!) (3 Year Warranty)
Memory:
Patriot 512MB DDR2 800 (PC2 6400) $38 (Lifetime Warranty)
GPU:
EVGA GeForce 7600GT 256MB $100 (Lifetime Warranty)
Total: $300
You can find other boards or chips too. The point is, a decent system can be build for not an extravagant amount. Too bad it's twice as much as your price range :sad:
Blame it on Microsoft, God does.