Though I don't have the 8320, it's all still really chip/board dependent.
For instance, an 8+2 phase board is going to overclock better than a 4+1. You probably already knew that. Also, I haven't had any luck overclocking my bus speed because it just locks up my computer. What you really want to mess with in the BIOS is just the CPU multiplier, because that will take care of most other things related to the CPU, and just adjust your voltage as you go. You can also adjust the base core clock by like 1 point at a time because that will turn it up really fast, use it for fine tuning.
How i got mine stable is:
+2 points if it freezes after boosting your multiplier
+1 point if freezes after boosting your vcore (that means if you do the first one and it still locks up, add another point)
+1 point if a core fails
Use P95 small FFTs for 10 minutes after each modification until you get to where you want. Once you do get there, run P95 AGAIN for 2-6 hours to see if it is full stable. With this I got my 6300 to 5ghz, it's pretty bulletproof. If you think you can lover your voltage go ahead, you can always bring it back up if it freezes.
PS, I dig your avatar.