Would I be able to use the Mach3 CNC Control Software or any of the CNC CAM Software(BOBCAD/CAM,CAMBAM) if I choose to use the Planet-CNC USB Interface Board?

Planet-CNC is the control software. If you decide to use the USB controller, you will need to use the planet-CNC software as the control software. You will be able to use any of the CAM software applications with the planet-CNC control software.