Number of stream processors * clockspeed is a good indicator, assuming the memory bus is the same width.
If that gives a roughly similar result between two cards, the one with the higher model number is probably better.
If you're comparing a 64-bit to 128-bit card, or a 128-bit to 256-bit card, then the one with the higher memory bus is probably faster, probably (e.g. HD5770 vs HD4870)
Of course, this doesn't always work, since the 80SP HD5450 is slower than the 80SP HD4550, despite having a higher clockspeed and equal memory bandwidth.