Which BIOS version is your MB on?
You need to contact your VGA manufacturer & they will provide you with a new BIOS to flash your video card.
PLS note that flashing the video card is not that easy & requires some skills. If you have the know how go for it. If not pls provide some more information as to which BIOS is on your mobo & the exact model of your card. Then someone will walk you through it.
Gin, the motherboard is totally compatible with that processor, just make sure you are running BIOS version 0460. Intel® Processors and Boards Compatibility Tool - Search Results Page
The speed of the memory you are trying to use is higher than expected, since the processor support memory speed of 1600MHZ. Even though Intel makes unlocked and Extreme Series processors that are robust enough to handle customizations, we doesn't recommend over clocking any of their internal components (memory, video or CPU) and there is no warranty support for that practice.