please advise on building new Intel motherboard system

I have an empty ATX box with older HD & optical drives & diskette.
I just want to bring up the system running first at lower cost, and upgrade
it as years to come.

I plan to buy the Intel DP965LT motherboard (NewEgg $95). The reason I
select DP965LT is because I can upgrade to Core 2 Duo as price comes down in
the future.

I plan to get the Pentium D 915 w/o fan (Fries $50). Then get the
coolermaster.com socket LGA775 XDreamP775 fan (Fries $18). Or should I get
this Pentium D 915 with fan at $85 (Fries & NewEgg) - Is
this fan integrated, comes from Intel? or NewEgg add the fan on later?

I will add one Crucial 1GB DDR2 533 (NewEgg $39).
I plan to use my old PCI VGA card. DVD writer will be external.

My question is:
1. does the Intel P965 chip set needs fan cooling?
2. This mb has only one Parallel ATA. Can I connect it to one HD and one
optical drive?
3. is my current 300 watts ATX power with 20 pins connector, sufficient for
this minimal system configuration? Or, may need 20 to 24 pins converter.