Yes and No.
Bottlenecking varies by the game and you can even be CPU bottlenecked at times and GPU bottlenecked at other times in the SAME game.
A few games may be bottlenecked up to 30% but it also comes down to VALUE and I think you've made the right choice in putting your money towards the graphics card only, not another $200 for an FX-8350 or whatever.
1) Use FRAPS and tweak the game quality settings to achieve a consistent 60FPS VSYNC rather than simply cranking up quality.
2) Ensure your Power Supply is adequate.
*Make sure you have enough 6-pin/8-pin connectors to the graphics card.
3) I don't recommend overclocking since your Power Supply is borderline for total power output.