Sim, esse processador pode funcionar com um módulo de memória classificado em 1600 MHz.
The CPU does not choose what the memory is recognized, the motherboard does. The CPUs will run at whatever the motherboard tells them too. They just don't officially support more than 1333MHz because when they first came out, that was really the best that was commonly available and Intel didn't care to change the specs. The Intel CPUs will support pretty much any frequency that you throw at them, albeit you need to keep the voltages in check.
Sempre escolha os módulos mais baratos e de menor valor, pois você só verá melhoramentos mínimos muito quando for de outra forma (a menos que você execute aplicativos especiais que exijam hardware sério).