Sandybridge i7 mobo compatibility

I'm planning on upgrading my brother's computer and plan to do a little shuffling around. Right now I have an i5 in my PC, which also has a "asus p7p55d-e pro" mobo in it. I want to give my i5 to my brother, while also getting him a new mobo because the current one is too old to support it.

He has an entry-level Acer Aspire desktop, when I cranked open the hood it seemed like a mini-atx mobo to me, only having 4 expansion slots. Would getting him this one (Newegg.ca - BIOSTAR TH67+ LGA 1155 Intel H67 HDMI SATA 6Gb/s USB 3.0 Micro ATX Intel Motherboard) fit the bill to support the i5? It has LGA 1155 socket type and supports the i3/i5/i7 cpus, I think it will.

Last question is will my current mobo (asus p7p55d-e pro - Newegg.ca - ASUS P7P55D-E Pro LGA 1156 Intel P55 SATA 6Gb/s USB 3.0 ATX Intel Motherboard) function with the Intel Core i7-2600 Sandy Bridge 3.4GHz? (Newegg.ca - Intel Core i7-2600 Sandy Bridge 3.4GHz (3.8GHz Turbo Boost) 4 x 256KB L2 Cache 8MB L3 Cache LGA 1155 95W Quad-Core Desktop Processor BX80623I72600)
Thanks.