We've had new cards released in December and before. Last two years, if memory serves me well? AMD has said they will have 7000 series out this year. They've said it repeatedly and recently. Now, granted, it's AMD and you can't bank on anything they say. That's why I think that it's
likely they will be out this year, but not certain.
I've also heard nothing reliable that the 7800 series, or any other, is going to be VLIW4. AMD has actually said otherwise. People are basing that on Trinity using VLIW4 and AMD needing something to crossfire with it. Possible, but AMD has denied that as well saying that you'll be able to crossfire GCN with Trinity. Again, it's AMD. So, it's not as certain as it should be.
That said, I'd wait, if possible, to see what's going to happen. If I really really needed a card now and wanted it to be <$200 I'd probably get this...
http://www.newegg.com/Product/Produc...82E16814150563 2GB VRAM, lifetime warranty, modern features (not a last gen card), lots of connectivity (Should you need that? Maybe in the future?), free game (You can keep or sell to reduce your expense.) under $200AR including shipping, in stock, and ready to go. If you don't think you'll need 2GB VRAM you can find a 6870 even cheaper, but I think it's worth it. It should extend it's useful lifespan, enough VRAM if you decide to crossfire, better resale value (along with the lifetime warranty) if you want to resell it.