The board supports the CPU and it should set it automatically .
If it doesn t you will need to go into BIOS and set 400Mhz FSB.
But now you would better get DDR 400 to get the maximum out of the configuration
It will run Windows 7 just fine with 4 Gigs of RAM ,if yo have a DX 9 AGP video card with a good amount of VRAM.
Careful when installing the CPU to not damage the exposed chip ,check it visually before installing as well.
The switches should be documented in the manual.
LE: I have also took a look in the manual.The jumpers need to be set prior to starting the system.Page 14 describes this little jumpers
For AUTO detection of the multiplier of the CPU you need to set them all to Off.This are the ones on the to pof the board.
Detection should be made automatically nevertheless as not many CPU-s are unlocked.Some are some are not.
For the CLK_SW ,that controls FSB it seems that for Auto(266/333/400 FSB) you need to set it to ON.In Off position you set the FSB to 100Mhz.Most probable it was intended for Durons.