No go on the 7870, it's price is too close to a 7950. It's just at a bad place.
On one hand, you can save money and get the 7850 and then overclock the 7850 to get almost the same performance.
On the other hand, you can spend just a tiny bit more money, and get the 7950 that is a different architecture and just a better value.
So to me the 7870 sits at a poor value proposition. The 7850 overclocked is a much better value (performance for price), and same with the 7950. I just can't see myself getting a 7870 due to not being as good of value as either of its value neighbors?