Here's my reasoning Madpacket.
1. There's only 12.5% core clock + compute unit compute performance difference between the two
2. Difference between 1266MHz core and 950MHz "optimal" core is 33%
3. Meaning if the same thing applies to the 470, 470 @ 1266MHz is essentially a 1125MHz RX 480
If 950MHz is an optimal clock for RX 480, then even RX 470 is entirely bound by memory bandwidth.
1125/950 = 18%
Potentially 18% higher hash rate than RX 480 @ stock assuming you can clock the memory 18% higher than RX 480 8GB's memory. That's 9.47GHz. Inversely, maintaining RX 480's stock performance means an RX 470 with memory @ 8GHz(up from 7GHz) can run its core at 1069MHz.
The other option is buying a RX 480 4GB. That's viable if the top OC memory clock is same as RX 480 8GB. It's very possible that its not. Perhaps 4GB version is a 7GHz binned one. In that case, save money get the RX 470 to OC memory.
Also, personally I got no choice. eBay USB PCI Express riser is still not delivered. Canada Post strike isn't helping things I bet. No RX-whatever is available to buy in Canada either. All out of stock. Minimum until Monday I can get my hands on it, if not a week from now.