Possible and wise to reuse old xeon processor from old broken down T7400 in new home build system?

Hi

I have an old dual quad core xeon T7400 workstation from 2008 or 2009 or thereabouts. It broke down a few months ago and I have it sitting here doing nothing. The motherboard has failed I think. I am thinking about building a desktop pc from scratch as I already have numerous parts sitting around the house (brand new OCZ SSD, Nvidia GPU, spare mouse, keyboard, monitor etc) Is it possible and wise to use one of the cpu's in a new single cpu system? I have no idea about all the socket systems, what they mean or how they work. Are their any new current consumer motherboards (eg ASUS) that will still accept these xeon cpu's or do you have to use a special kind of motherboard? Can I use generic non ecc ram with these cpu's? I want to build a new system to run daz 3D and octane.

Any advice would be greatly appreciated.

cheers