Yes! The one I linked can OC up to 5Ghz. And more if you are willing to push it. But even if you aren't they will go far and fast. With the base clock speed at 3.3GHZ it give's you a ton of room to keep going.
I highly suggest spending the extra money on that. Especially considering it can outperform a $1000 chip in certain circumstances. Though I also agree that you should be getting at least a 560 for gaming. I would suggest that to your friend. Even if it just breaks the budget just a little.
Otherwise you will regret it later and end up spending more money down the track anyway.