1Ghz 7970s have fallen to
$280, while GTX770 sells for $380-450, while 780s are going for $650-720. At this point NV is no longer competing with AMD on value or price/performance in the $250+ bracket. NV just prices their products at whatever the consumers are willing to pay for their cards and keeps prices high for as long as possible. That means even if 9970 delivers 95% of Titan's performance for $499, people will still continue to buy NV cards just like right now NV's loyal consumers buy $300 GTX760 4GB, $400 GTX770 2GB and $450 GTX770 4GB. It has been a LONG time since we have seen such a discrepancy in price/performance for AMD vs. NV.
AMD needs a new strategy since price/performance against NV doesn't work but they can't afford to build 550mm2 die GPUs either.
I mean if we look at where 1Ghz 7970 is right now, not a single 770 should even sell in the US but it sells. That means there is now a fundamental shift in how consumers look at AMD vs. NV cards. AMD is in a very tough spot since even if they beat 780/Titan and undercut NV, consumers still prefer NV.