Acc to this review, stock vs stock the difference varies from 20-50% on avg with some greater variations. Ocing both will increase that difference by at least 20% as well so in most cases the difference will be a minimum of 40-60% and minimum FPS will be even better.
http://www.anandtech.com/bench/Product/512?vs=549
http://www.tomshardware.com/charts/2012-vga-gpgpu/19-Tom-s-Hardware-Index-C-Extreme,2977.html
Even according to toms, as you game at high settings, 19x10 with AA or 25x14 without AA or 19x10 without AA for intensive games, stock vs stock the difference is at least 30-40%. And with overclocking both, the difference will easily cross 50% on average and nearing 100% with the most intensive games as has been shown with AT's bench as well.
http://www.techpowerup.com/reviews/MSI/HD_7870_Twin_Frozr/26.html
Even according to this review, at 19x12 and 25x14, without AA, the 7850 is 30-35% faster with average FPS when both are at stock. With minimum FPS the difference will probably be close to 40-50%+ or so. And when both are overclocked, the difference will be even greater because:
1. Although the 5850 is a good overclocker, the 7850 is much much better in terms of % oc.
2. The 5850 doesn't scale much with oc, while the 7850 scales nearly linearly.
3. A high oc on the 5850 will increase performance by at most 10-15% so it will come in the 5870 1 gb league and in games with tessalation (all new games of 2012 and beyond) it won't be significantly better than a 6870 and may often be worse. This is after the overclock.
An oced 7850 however will perform close to a 7950 stock or 7870 high oc onced overclocked which means an additional performance of at least 30%+ and the 2gb VRAM makes it future safe at decent settings for at least 1-2 years down.
4. Stock 5850 = x
Stock 7850 = 1.3 x range varies from 1.2 x - 1.5 x and often nearly 2 x, but mostly within 1.4 x.
Oced 5850 = 1.1x - 1.15x
Oced 7850 = 1.3 X 1.3 x approx = 1.69 x = 1.7 x
1.7 x / 1.1 x = about 50-60% performance gain when both are overclocked without much tesselation/AA/AF/no need of 2gb vram. With games which require tesselation or VRAM, the difference will be nearly twice the performance.
It is like saying that going from a 1 gb 6950 stock to 3gb 580 oc isn't a worth it deal when the prices are pretty reasonable.