So you've got a great motherboard , a good GPU & a average CPU.
I do agree with kgt1182 now , on a gigabyte board these CPU's can overclock with very little extra voltage & likely a decrease.
I've run my 8350 @1.33v to 4.6ghz on a board like yours.
You should
1. Always test stability & temps by using amd overdrive & Intel burn test or prime.
http://www.amd.com/en-us/innovations/software-technologies/technologies-gaming/over-drive
http://www.majorgeeks.com/files/details/intelburntest.html
The cpu status in overdrive shows all core frequencies & thermal margins.Run an Intel burn test & watch clocks (should be no bouncing around ) & thermal margins (these count down from tjmax so essentially anything above 0 is fine)
2. Use cpu-z to show correct CPU voltage under load (while the stress test is running) ,it'll likely be slightly higher than you expect.
http://www.cpuid.com/softwares/cpu-z.html
3. Always,always disable turbocore function if overclocking
4. Buy yourself an aftermarket cooler mate honestly - the deepcool gammaxx is leas than $20 , it'll let you do 4.2/4.3ghz without a doubt with sub 60c temps. Comes with pre-applied paste, uses the stock and clip system & takes about 30 seconds to fit.
That clock speed is honestly what I'd consider optimal without pushing any excess voltage or temps.
I've been running a gtx 970 that way for near 3 years & performance in just about any game has been faultless.
Bear in mind what I said about setting desktop to 50htz & enabling adaptive vsync in the nvidia settings.
You will rarely see any fps drops this way & it tends to keep CPU & GPU temps cooler.
You will not tell the difference between 60htz & 50htz at all.
Once you've ascertained temps & stability while stress testing there is really no need to keep monitoring while gaming ,you will NEVER push those kind of loads or temps under a gaming session.