this question has been asked a million times... and theres lots of benchmarks out there.
for basic computing and MOST games, the 4670k wins.
for some of the newer games that are using 8 cores, the 8350 will be better suited, like BF4 and watchdogs.
an 8320 with a $50 all in one liquid will set you back $200, that easily OC's to 4.5ghz. that's the sweet spot for bang for your buck i think