OK well I found other boards for even cheaper that are and have decent features. Mostly around $50-60. Can't speak for the old Xeon board but it still changes nothing.
The PC would work and play games, but your kidding yourself if you think its really a good investment. A PS4 would be a wiser choice at this price.
The CPU is DOA, that means board will need upgrading soon enough since the GTX 1060 will be bottlenecked by even an overclocked i5 2500k at 4.5Ghz.
http://www.overclock.net/t/1578480/i5-2500k-4-5ghz-vs-6700k-4-5ghz-in-games
The CPU you chose is incredibly weak in todays standards. You are talking 40-50% slower than a 2500k.
I bet there were plenty off instances where the game tanked in his testing. And im sure other games would be even worse.
If you want to build a PC, just be prepared to spend a bit extra to start off with - otherwise youll just pay the price later on.
As a PC gamer - i just wouldnt recommend builds at this price point.
The minimum i would go with would be a 2600k build or a skylake i3 build - usage dependent. And i would go for a 2nd hand GTX 970 or similar.