Please, if you can afford a better motherboard, do it. At least one with a 970 chipset, or even 990 would be better.
Regarding the OC, always (remark that word) is better having an aftermarket CPU cooler. That one is quite better (I had it before) than the stock cooler.
If money isn't an issue, then a Gigabyte 990FXA-UD3 would be a start point. Of course with the Frio.
If money IS an issue, then get a better motherboard, keep the CPU at stock until you can afford an aftermarket cooler (a couple months later maybe). At stock, the 8320 still is a good CPU. But, motherboard is not a part that you should be cheap on, specially if AMD finally confirm the compatibility for Steamroller and AM3+ socket..
You'll be thankfull to yourself in the near future...
8320 @ 4,7 / 990FXA UD5 / CF-X 7970 + 7950 / Switch 810 / H110 p-p / 16 GB RAM / 23" 5760x1080 / SSD 64GB RAID0 / HX750 / SB Recon3D Fatal1ty Champion / z506