Aerocool is a tier 4 unit on this list.
It may not be able to give your graphics card sufficient power.
https://community.newegg.com/eggxpert/computer_hardware/f/135081/t/45344.aspx?Redirected=true
I would look to replace it with at least a 650w unit.
To help clarify your CPU/GPU issue, run these two tests:
a) Run your games, but lower your resolution and eye candy.
If your FPS increases, it indicates that your cpu is strong enough to drive a better graphics configuration.
If your FPS stays the same, you are likely more cpu limited.
b) Limit your cpu, either by reducing the OC, or, in windows power management, limit the maximum cpu% to something like 70%.
Go to control panel/power options/change plan settings/change advanced power settings/processor power management/maximum processor state/
This will simulate what a lack of cpu power will do.
Conversely what a 30% improvement in core speed might do.
You could also experiment with removing one core in the bios. This will tell you how sensitive your games are to the benefits of many cores.
If your FPS drops significantly, it is an indicator that your cpu is the limiting factor, and a cpu upgrade is in order.
It is possible that both tests are positive, indicating that you have a well balanced system, and both cpu and gpu need to be upgraded to get better gaming FPS.
What to do if you identify a weak component:
In theory, the R9 cards are wonderful.
But, reading newegg reviews, there are an unusually large percentage of problems.
Go to some forums and check out the R9 290 issues.
The FX-9270 is simply an overclocked FX 8 core cpu. It is a poor return on your money. Better to oc your 8320 yourself as well as you can.
Water cooling is not a great idea to my mind.
My canned rant on liquid cooling:
------------------------start of rant-------------------
You buy a liquid cooler to be able to extract an extra multiplier or two out of your OC.
How much do you really need?
I do not much like all in one liquid coolers when a good air cooler like a Noctua NH-D15 or phanteks can do the job just as well.
A liquid cooler will be expensive, noisy, less reliable, and will not cool any better
in a well ventilated case.
Liquid cooling is really air cooling, it just puts the heat exchange in a different place.
The orientation of the radiator will cause a problem.
If you orient it to take in cool air from the outside, you will cool the cpu better, but the hot air then circulates inside the case heating up the graphics card and motherboard.
If you orient it to exhaust(which I think is better) , then your cpu cooling will be less effective because it uses pre heated case air.
And... I have read too many tales of woe when a liquid cooler leaks.
google "H100 leak"
-----------------------end of rant--------------------------
I suggest a noctua nh-D15 or phanteks with dual 140mm fans.
Your pc will be quieter, more reliable, and will be cooled equally well
If you ultimately determine that the cpu s at issue, and you want more, then a intel haswell quad and motherboard change is in order.