If this is for gaming, the 770 will outperform the 270x.
The 4670k would outperform the 8320, though it wouldn't be as noticeable as the difference between the GPU's.
IMO, look at an i5 4440/4570 and a B/H motherboard as this will outperform the 8320. If you can get that around the same price as the 8320 + M5A97 and still be able to get the 770 it would be a better setup.