That sounds like a good deal. As for the onboard stuff, most of it should be ok. The LAN and USB would obviously be perfectly fine. Onboard sound is usally a good bit lower quality when compared to high end cards, but it all depends on how picky you are. Some do sound decent and even have some decent surround sound options. Heck mine even came with optical in/out!
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Desktop * Athlon X2 4200 | 2G RAM | 160G HD | 7600GT
Laptop1 * C2D T5550 | 3G RAM | 120G HD | Intel x3100
Laptop2 * C2D T5250 | 2G RAM | 160G HD | Intel x3100
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