I've done some similar things myself. I just love the look of those old desktops. If I could get an old IBM branded one I might have to migrate mine. Clearance between the CD drive and the heatsink may be an issue, but they do make lo-pro fans that could probably fit the space well enough.
People have made the very valid point of minding your ventilation, and I'd suggest 2 more fans in addition to the 2 80mm fans slots in the front and rear. They make several 5.25" hard drive cooling units that move a fair bit of air and it looks like you'll have an open bay for that under your existing CD drive as long as you don't add another. Additionally, one of your unused expansion slots in the back could be used to house on of the many types of exhaust fans that fit in there. Buy your fans based on CFM and try to match intake total intake to total exhaust volume. This ensures proper airflow and helps reduce noise. Also, keep those unused expansion slots blocked off with blanks or your airflow will suffer. Buying a set of rounded IDE cables will also help cut down on dead air pockets.
None of those items are over $10 and will make a big difference in the life of your components. Without proper cooling the type of capacitors used on that board have been known to swell causing improperly regulated voltage to be given to other components and before you know it, it's time to build a new machine.
People have made the very valid point of minding your ventilation, and I'd suggest 2 more fans in addition to the 2 80mm fans slots in the front and rear. They make several 5.25" hard drive cooling units that move a fair bit of air and it looks like you'll have an open bay for that under your existing CD drive as long as you don't add another. Additionally, one of your unused expansion slots in the back could be used to house on of the many types of exhaust fans that fit in there. Buy your fans based on CFM and try to match intake total intake to total exhaust volume. This ensures proper airflow and helps reduce noise. Also, keep those unused expansion slots blocked off with blanks or your airflow will suffer. Buying a set of rounded IDE cables will also help cut down on dead air pockets.
None of those items are over $10 and will make a big difference in the life of your components. Without proper cooling the type of capacitors used on that board have been known to swell causing improperly regulated voltage to be given to other components and before you know it, it's time to build a new machine.