i've got the same CPU and motherboard - love the board btw, especially after going thru one Asrock Taichi and two Gigabyte boards.
What MM41 said about ambient temp - we keep the house at 72F (22C) - i'm at 4.9 with a 1.245 Vcore. Rendering videos (the main program i use keeps the CPU at 96-99% load, and my temps are usually in the low to high 70Cs. The wife unit turned the heat up to 74F today while i was rendering, and five minutes later the alarm on my monitoring program sounded intermittently - one core was hitting 85C - just 2 degrees Farenheit did that.
Something else to keep in mind - you should have more fans blowing air into the case, than exhausting - and your GPU is exhausting air in addition to the 3 radiator fans. With more fans exhausting than blowing air in, you've got negative air pressure which means the radiator fans are working harder and still delivering less air thru the radiator. An easy way to see if that's an issue would be to take the case cover off.
DarkBreeze put up a pretty decent guide to OCing with some tips on adjusting or tweaking Vcore - that 1.32V may be the Vcore you need to run stable, but i'd try DarkBreeze's tips to bring it down - the lower you can bring it down, the lower the temps. Link below to DarkBreeze's OC guide
http://www.tomshardware.com/faq/id-3761568/beginners-guide-overclocking-cpu-explicit-testing-guidelines.html
Those stress tests are nice exercises to prove your system stable at whatever settings, but don't live for stress testing - what kind of temps are you seeing when you're doing whatever, ie gaming etc?
When i get liquid cooling set up, i plan to turn the case's normal exhaust fan around to blow air into the case, and fabricate an acrylic shroud to aim the air down at the VRM heatsinks. just an idea