Compatible with AMD FX 8350?

I'm planning on doing a little upgrading to my computer as I have a bit of extra cash laying around. The good people on these forums have convinced my that purchasing an SSD is well worth the money so I will go ahead and purchase an SSD for sure. But, I am also considering buying a new CPU and motherboard with hopes of overclocking in mind...
For some reason I am really looking at the AMD FX 8350 CPU as I would like to stick with an AMD processor, and I notice it comes out of the box at 4.0GHz which is very nice. What are your thoughts on the CPU? Also I have noticed some listing for the chip that say 4.0(4.2 Turbo) what exactly is the whole 4.2 turbo about...
If I decided on this chip (AMD FX 8350) I would absolutely like to do some over clocking and that is why I think I will be needing a new motherboard as well, a motherboard that will allow for easy over clocking (for instance the mobo I have now...people are saying it doesn't have "direct vrm cooling" etc.

So to break this down, I am thinking of purchasing a new CPU/Motherboard that will allow for easy upgrading..what are your thoughts on the 8350 and what would you recommend as a CPU/mobo combination?
Also, would you recommend buying the CM Hyper 212 for this processor as I'd like to do some OC'ing or something else? Stock?

Thanks so much!

Current Setup is below:
Ram: g.Skill Ripjaws 8gb
CPU: AMD Phenom II X4 955 3.2
Motherboard: ASUS M4A87TD/USB3
Power: 600W OCZ
Case: MidTower
GPU: NVIDIA GTX 460