I would guess a little less. Its got 14% more shaders but they run at 850 mhz vs 918. It should be around 5-10% faster.
I bet the GDDR5 is also downclocked from 285 for power consumption reasons. I would guess M295X is at best as fast as a stock 285, nowhere near 20% faster.
Lol, not having reasonably priced 5K monitors on the market doesn't make this good value.
For a non-PC gamer it's an amazing value:
1. Resale value on this model will be sky-high, barring some Radeon-gate issues. I bet in 4 years you can easily resell this $3000 iMac for 50% of its value. A $3000 PC rig in 4 years will be worth $1000.
2. It'll probably be a while until we see a 5K IPS 27-30" PC screen below $1700. For someone who works with photography of 4K video editing, the 5K screen is a good value.
3. You haven't allocated any premium associated with its design or compactness considering it's packing an i7 4790K in its high-end configuration.
I would prefer PCIe-based flash storage and a 6-core CPU for $3000 but I think those will become standard in 2 years with Skylake/Cannonlake.
Hopefully the improvements AMD has made with Tonga and R295X are magnified on the 390X if it's to use 20nm and HBM. Looking forward to 2015.