Interesting you just posted this as I've also purchased the E3-1230 and am killing myself trying to find a mITX motherboard to support it...without luck. My thoughts have also been similar to yours, however, the board has on-board graphics so it should work just plugging a monitor in.
I just stumbled upon this Intel motherboard, and what is very strange, but possibly related to what you see, the E3-1230 is not on the list of Intel supported CPUs - though just about every other E3-12xx is.
Check at this link and look down in the Compatible Products section:
But, searching the Intel site further, I found this - which shows the board has been tested with the E3-1230:
One last link says the on-board video support is for CPU's which include graphics support - otherwise need the PCIE card:
Integrated graphics support for processors with Intel
® Graphics Technology:
• Discrete graphics support for PCI Express 2.0 x16 add-in graphics card
Not sure if you would be able to boot without the PCIE card and a non-graphics CPU.