Upgrading ASRock Vision 3d 137B?

I have this:

http://archive.benchmarkreviews.com/index.php?option=com_content&task=view&id=620&Itemid=66&limitstart=2

...with a i3-370M processor and 4GB RAM.

It's only used for Minecraft and web browsing but even for that it is really starting to struggle.

I'd like the form factor so would like to upgrade, but am concerned about power and cooling.

Can I just drop in these:

ASRock Z87E-ITX, Sockel 1150, ITX
http://www.hardwareversand.de/en/DDR3/79847/ASRock+Z87E-ITX%2C+Sockel+1150%2C+ITX.article

Core i3-4350T, 35W TDP
http://www.hardwareversand.de/en/Sockel+1150/165479/Intel+Core+i3-4350T+Tray.article
or
Core i3-4370, 54W TDP
http://www.hardwareversand.de/en/Sockel+1150/189772/Intel+Core+i3-4370+3%2C8GHz+LGA1150+4MB+Cache+Boxed+CPU.article

8GB RAM x2
http://www.hardwareversand.de/en/1600+MHz/179318/8GB+Crucial+SO-Dimm+Ballistix+Sport+DDR3+PC3-12800+1600+CL9.article

Will I get away with the 54W CPU? The AsRock spec mentions an "installed discrete graphics card" which I'll ditch and rely on the integrated HD 4600 on the CPU board.

I think the external power brick is 90W.

Will I need a fan assembly? Or anything else? Will the existing SATA 3 HDD work with the SATA 6 motherboard?

Total comes to EUR 430.28 with the better CPU, which I think will give me a useful light-gaming SFF machine. Is there a better approach for the money?

Help! I have no idea what I'm doing. :pac: