You guys are arguing in circles. It's semantics. The GTX 680 is a GTX 680. It's the fastest single GPU Nvidia offers and it beats a stock HD 7970. It's also priced at $500. "BigK" has not made an appearance and likely will not for another half year.
So you can argue if it looks like a duck ("680" moniker), swims like a duck (gaming performance) and quacks like a duck (price,) then it probably is a duck (a high-end card).
That's not to say it doesn't share underpinning similarities with GF114. Obviously it doesn't have the FP64 performance, or transistors at all. Obviously it has a smaller die, you'd expect a 560 Ti etched on a 28nm process to be even smaller than 294mm^2. It should be closer to 260mm^2. The fact is even if you count the 680's shaders in pairs, it has more pairs than the GTX 580 has individual shaders. It has 128 texture units like a proper high-end card, but it also has 32 ROPs like a 560 Ti.
I see no issue with calling the GTX 680 Nvidia's high-end card right now. Just as I see no issue with calling "BigK" Nvidia's high-end card 6 months from now. See how that works? It doesn't matter how the GTX 680 got there...just that it's there, firmly at the top for while yet.
Analogy: say Abe and Cain are King and Duke; they have some other relatives but they are all lower ranked. King Abe for whatever reason is having a tough time making a baby (low yield of sperm?). Duke Cain's wife pops out a son, and for several months it seems as though Duke Cain's kid is going to end up being the heir to the throne by default. During this time that kid may be treated as though he were the prince. But the moment King Abe makes a baby, that is going to be deemed the true heir to the throne--not Duke Cain's son, no matter how much the Duke's son looks and acts like a prince.
The GTX 680 is Duke Cain's son, and is going to be treated much like a prince by default, since King Abe's low-yield sperm is taking forever to make an heir. It may end up the case that the King never sires an heir, and in the meantime, the Duke's son becomes the de facto prince as more and more people give up hope that the King will ever sire an heir. But we don't know for sure that the King will never sire an heir, and until then, it's disingenuous to crown the Duke's son a prince, so long as there is a possibility that the King sires a true heir.
What you are rambling on about re: die size is incorrect (again: shader clocks, read the 2 pages, specifically the portion about die space). Obviously you need to read those 2 pages as well to understand why it isn't as simple as shrinking GF114 down to 28nm. Two words: shader clock.
Yes of course a gtx 680 is called such and is marketed by NV to be such, but it is clearly derived not from a GF110 but a GF114, so it is perfectly understandable why people feel like it's just a souped-up GF114 descendant (gussied up with more than 2-way SLI ability and fast RAM, but note it's still only a 256-bit card and physically derived from a GF114) and not the true heir to the GF110.
The bulk of what you say I've already said a bazillion times myself and I doubt there is much disagreement on this: the gtx 680 is marketed and priced as the top end card. Further, it is apparently the fastest Kepler available and will continue to be so for a long time (several months minimum), therefore even if BigK came out, it will come out so late that it might as well be considered a refresh, rather than a part of the same "generation." There is no disagreement here. You're beating a straw man.
But that doesn't change the fact that it is clearly a GF114 derivative--not GF110--and offers much lower performance increase over the previous top-end card, and it's obviously based on the previous midrange card and lacks HPC characteristics. Thus it invites comparisons to last-gen midrange placement.
So yes it is basically a GTX 660 Ti that's been souped up and clocked high, no doubt affecting yields badly, which is probably part of why there is such low availability of the GPU right now.
That is nothing to be ashamed of; NVDA can gloat that their souped-up midrange card trades blows with the rival top-end card. (They are about as fast when both are overclocked and the 7970 gets a little voltage to match up with the overvolting that GPU Boost does, but the GTX 680 is more power efficient and cheaper to boot.)
Things do not have to be one way or another. Both things can be true. Obviously this wannabe-princeling card is a GTX 680 in many respects but it is also obviously derived from the loins of a midrange Duke and not the King; when mapping GK104 onto the GF11x family tree, it is obviously the GF114 analog.
The end.