It works..
heres the official version----------
Forward compatibility: old motherboard, new card
PCIe 2.0 is intended to be 100% forward compatible. Any PCIe 2.0 card should work in any PCIe 1.x motherboard. Again the link speed will be limited by the slower part, and will have to clock down to the slower PCIe 1.x speed. Because the card expects to have more bandwidth available, this could cause a loss of performance (as of this writing that loss is purely theoretical, as no commercial cards can saturate a x16 PCIe 1.x link).
There are scattered anecdotal reports of some very early PCIe motherboards, boards that implemented the PCIe 1.0a spec, not playing nice with new PCIe 2.0 cards. Again, this comes down to a violation of the specification on the part of either the motherboard or card. If you are stung by such a problem, contact the companies that made your motherboard and video card.
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My MoBo is a Intel Pentium D series one...so I dont think Intel violates specs nor Asus violates specs...so fingers crossed..As I cant find any info in Asus nor Intel sites about this