I can only give you my experiences with recently overclocking in almost the exact same config as yours and that is - Gawd damn the 8350 runs hot.
It's pot luck to getting a good chip, but in my case, 20-30 minutes of Prime95 puts my die temp right up there to about 58c, giving me a little bit of headroom to the 62c limit. I imagine it will go safely up to 70c, at which point it will begin throttling, but I'll stay on the safe side.
This is with a relatively minor 4.4GHz overclock on the same cooler. Admittedly I replaced the stock fans with two SP120 Quiets and it is also summer, but that's about as far as I can go on mine.
It was also done with a slightly minor voltage bump, remaining at a fixed volts of the stock 1.3625v and the CPU LLC set to Ultra High, which, in both cases (Normal and Load) over shoots the mark by about 0.02. I had Prime errors when it was undershooting, so I'm more than ok with that slight addition.
(Under full load, that'll be 1.38v).
Your voltage is a bit higher. Your clock is higher. Although, you are also combining it with an FSB overclock.
Interesting note is that during my testing at stock levels to get an idea about how things looked, when TurboCore was used it auto over-volted to 1.4v, suggesting that AMD greatly over compensated for the tiny .2GHz increase with the Turbo. This suggests that it will run at comparative temps at simply stock volts (with TurboCore, fortunately, you disable it for an OC).
In short then, you may need to clock down a bit. It's getting too warm.
I believe in another thread you also noted that you used Arctic Silver 5 for the paste. Don't forget the break-in period for this TIM (100-200 Hours), I'm also using AS5. It's unlikely you'll see a drop of anything more than 1-2c after that, if any, but it's worth remembering.