Will this pc set up work?

Looks good, but I'd really recommend getting a different brand of PSU, maybe a Corsair. Reason why? Well Rosewill is really just rebrand old PSUs, which is not good if you want a stable system. For the CPU, if you can dish out another $50 or so, get the new Phenom II x3 720. Why?The old Phenom is SH*T. Also, you will NEVER, EVER need the extra features of Ultimate, get Home Premium, it lets your computer run faster and use less space.