To be honest, the FX-8320 and FX-8350 will both wind up at about the same clocks when overclocked with an equal budget thrown at the problem. You can spend less on the FX-8320, but you'll have to spend more on cooling to overclock to where the FX-8350 can get on less cooling, so it's sort of a wash there.
Example:
FX-8320 + Silver Arrow =~ $210
FX-8350 + CNPS10X Performa = ~$210
Either is going to hit ~4.4-4.6ghz. The 8350 will do it a touch more efficiently in theory, so I would tend to advise the 8350 over the 8320 except in those cases where the 8320 goes on special pricing for <$130.
The UD3P is cheap and has the power to do sub 5ghz overclocking pretty well.
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All that said, an overclocked FX-6300 is actually going to break even (trade blows) with a stock clocked FX-8350 in most cases. Especially in real-time workloads where performance scales better with per-core performance than with more cores.