windows home server 2011...celeron 847 powerful enough?

Spend the money on something a tad more powerful.
 
As Danny Said spend the money on something a little more powerfull. You can get a newer celeron at 2x the clock with a mITX board for about 20 bucks more then that celeron 847 board.
 
The mobo is so-so. While the CPU would be ok, in terms of bang for the buck value, it's a bad choice since the faster Pentium G860 only costs $14 more:
http://www.amazon.com/Intel-Pentium...1?s=electronics&ie=UTF8&qid=1356988813&sr=1-1

IMO, the performance increase you get is well worth the extra $14.

my budget is about 150 for a CPU and motherboard; that said there is a little room to play around. which socket 1155 ITX motherboard would you suggest? I don't need any fancy features like onboard RAID, integrated WiFi, just needs gigabit LAN integrated video
 
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