your psu will handle the game fine
and your cpu is not that bad,
it might be a bottleneck in some games(very few) but the problem is that people have a very wrong concept of bottlenck in their minds,
to think of it the simplest way is that your gaming performance is like an avg. between your Cpu and Gpu with more focus on the Gpu.
and also it depends on the games u want to play??
Just a tip:
You should download RealTemp after you overclock your CPU just to see how hot it gets. Prime95 is a good tool when it comes to pushing your CPU a bit to get a view on how stable your OC is (and run RealTemp in the meanwhile)