There's also the LGA 771 mod to consider. It lets you drop in a quad-core xeon, which costs a lot less than a C2Q.
YMMV, of course.
For those interested in LGA771 mod:
http://www.overclock.net/t/1431723/mod-lga775-support-for-lga771-xeon-cpus
I've performed this mod many times, all worked fine in the end. I've even done it on a Dell OptiPlex 380 and an HP dc7900 uSFF (a uSFF with a XEON!) Make sure you update to latest bios, stick with the E5450 Xeon (it's the most compatible/least expensive/highest performance chip IMHO) and don't attempt to make your own adapter out of packing tape like other people have. The adhesive will just eventually melt and ooze resulting in a good day gone bad. Unless you were already having a bad day, then it'll be even worse.
The Xeon E5450 is always detected as a C2Q Q9650 (they have the same microcode) in a LGA775 board. So if your board supports the Q9650, odds are it will boot a E5450 with a pin mod and the alignment pegs removed (use a sharp razor to make ~20 light incisions then snap off with precision needle nose pliers)
The Xeon E5450 is comparable to a Haswell i3-4130 ($100+) and the Xeon's overclock extremely well if your in a non-OEM system that lets you change the FSB. All my E5450's hit 1600Mhz FSB and 3.4GHz at stock voltage. When you consider these chips have 12MB Cache, they're competitive in some tasks with an i5. And they're <$40 bucks.
I can't speak of this MSI board, although it looks interesting, but if you wanted to experiment (and have a ton of Xeon's lying around like I do) it could be a fun project. I always enjoy reverse engineering/modifying stuff. Especially Intel stuff since it's often so rewarding.
The adapters can be found on eBay for $3.