Yes, thats what early reports have said. They say GTS putters out fast above 1.2G... The KyroII is suppose to get a nice boost with DirectX-8.1 so we have to wait to know for sure.
Though i would have to say, it all depends what you want...
High quality visuals with great frame rates. --KyroII
Or lower quality visuals with the about the same frame rates. --GTS
I have both the GTS and KyroII in 1.2G machines. The KyroII stomps all over my GTS when it comes to visuals. I still wouldn't give up my GTS totally, the card has been a champ for a year now, and still going strong... The only game i still use the GTS for is CS, for some reason i have had a ah heck of a time with CS/W2K/Kyro4500 combo... Hopefully i'll get that sorted out this weekend.
The KyroII, like i said just waiting for DirectX-8.1 to render the "final" performance verdict.