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HD6870 $130 AC/AR @ newegg

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Edit: This is really tempting me to upgrade my 4870 512 MB. The 7850 at $250 is not an appealing alternative at all. However, if it's $200 or less in the near future, then that might be worth it.

In the same dilemma as you, but decided to bite on this. The 7850 would need to be ~$185 to be equal on price/performance (+20-30% gains), I'm betting the 7850 will be sitting at $200-220 with rebates even when they do come down. I don't demand 4xMSAA and 16xAF on the newest titles, and this is a great performer at 1080p FXAA, 16xAF. I don't mind rocking this while I wait for the oncoming price war which won't happen until 28nm yeilds improve.
 
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Even at $145 shipped it's a hot deal. I got mine for $150 many a moon ago and I love this card. It's still one of the hottest bang/buck cards available.
 
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