Normally I am an AMD Freak, but I found myself with a spare 2.0GHz P4 CPU, and needed a system. The only compatibility issue I have had is when I updated to the last 2.6 Kernel, the audio playback became choppy to the point where it was useless. I disabled the on board AC97 audio and installed a PCI C-Media sound card, and the issue was resolved. Also, I was not able to adjust the volume with the AC97 sound device, the C-Media works fine.
Surprisingly I was able to over clock the processor from 2.0GHz to 2.66GHz by upping the FSB in the BIOS from 100 to 133, and the cooler is nothing impressive. (However, this board is clearly not intended for over clocking, there are next to no options for voltage, and you can only select 100/133/200 for your FSB)

Partial output from /proc/cpuinfo:

processor : 0
vendor_id : GenuineIntel
cpu family : 15
model : 2
model name : Intel(R) Pentium(R) 4 CPU 2.00GHz
stepping : 7
cpu MHz : 2661.573
cache size : 512 KB
~~~~~~~~~~
cpuid level : 2
wp : yes
flags : fpu vme de pse tsc msr pae mce cx8 apic mtrr pge mca cmov pat pse36 clflush dts acpi mmx fxsr sse sse2 ss ht tm pbe cid xtpr
bogomips : 5275.64

System Configuration:
P4 2.0GHz OCed to 2.66GHz
768MB DDR400
10GB Quantum Fireball
48x Samsung CD-RW
AGP Matrox G450 (running in dual head mode)
PCI C-Media Audio Card
PCI TRENDnet GB ethernet

Note: I have read revies from newegg.com that report this board will not work with P4 chips that have 1MB of cache)