I would like to know whether the following PSU will be able to run a factory overclocked AMD R9 290 video card.
FSP Aurum S 600W 80+ Gold
http://www.goldfries.com/hardware-reviews/fsp-aurum-s-600w-power-supply-review/
My other system specs:
CPU - Intel Core i5 4570
Board - Gigabyte G1 Sniper B5
RAM - 1 stick of 8GB 1600MHz
SSD - Intel 240GB
HDDs - WD Blue 1TB + WD Green 3TB
A 600W PSU will run any graphics card on their factory clocks. But since you have a R9 290 factory overclocked, I recommend you get a beefier PSU.
http://extreme.outervision.com/psucalculatorlite.jsp - check out this site, punch in your pc specs and see how much you really need for your system. Better overkill a PSU for better protection against power surge and any electronic anomalies.
You have plenty of power. OCing doesn't increase power consumption that much. Especially not on factory OCed cards where the increases are minimal and the voltage doesn't change.