I believe that it can, I know a couple people on here who have that exact setup.
You would be correct. I can reach 4.8GHz with that cooler and still be under 85°C, but I prefer to sit at 4.7GHz which is 10 - 15°C cooler. With that CPU and cooler of course.
Edit: Actually it peaks at 95°C under full load @4.8GHz (I have to increase the vcore a lot to reach 4.8). It's a good cooler at a great price. I would recommend it.