For all 7970's improved efficiency and massive horsepower, one simple fact nearly torpedoes its attractiveness: the card's MSRP is set for $549. Actual prices, of course, could run much higher, depending on availability. For comparison's sake, take a look at the going prices for the other cards we tested today, as listed on NewEgg on 6/16/08. I priced out an EVGA 9800 GTX, as the Palit model was not available.
Palit 9800 GX2: $507.99
EVGA 9800 GTX: $269.99
Sapphire Radeon 3870X2: $319.99
It's hard to justify buying a $549 HD7970 when it's outperformed by a GTX560 2Win that happens to cost $30 less, and I know which card I'd personally pick. Make no mistake, price is the really problematic factor here. If AMD was launching the HD7970 at an MSRP of $399, the card would offer an entirely different, and vastly improved, price/performance ratio. With an estimated die size of 576mm2, however, a $399 price point just isn't a realistic option for a full GTX 280 GPU. Transitioning to a 55nm process will undoubtedly improve the situation, but until that happens, NVIDIA is somewhat stuck.
If you're both an AMD fan and a member of this highly elite market, a set of HD7970 cards in Crossfire are the upgrade you've been waiting for, no questions asked. Almost everyone else, however, will be better off with a G92-based board, whether that's a 9800 GX2, a 9800 GTX, or even something a little easier on the wallet. Anyone currently in the market for a new video card would be well advised to hold off a little longer to see what NVIDIA drops down the pipe. Even if you aren't in the market for an NVIDIA solution, a new product refresh inevitably shakes up prices on both sides of the fence.
As for the HD7970, it doesn't really change the field. For the vast majority of customers, it's older card "business as usual," and probably will be for at least the next few months. AMD did launch a second Taihiti part this month, the $449 HD7950, but based on my HD7970, results I can't see how much better the 7950 could possibly fare. At $449, it's cheaper than our ~$500 GTX580 card, but it'll also run only slightly faster across the board.
Even given the HD7000s disappointing debut, AMD is still sitting pretty with a commanding performance lead in virtually every segment. NVIDIAs GTX6x0 parts may be shipping soon, but the burden of catching up to AMD is firmly on NVIDIA's shoulders. For the moment, the Radeon manufacturer may feel it can afford to wait and milk the highest end of the market.