The reality is that even though nVidia was late, at least they produced a faster part. R600 arrived 6 months late and still wasn't fast enough. So, in that regard, nVidia delivered better than ATI did.
However, I believe that the nVidia glory days are over. Where can they go next? Die Shrink? As far as I can tell they don't have any room to move. ATI on the other hand, in theory, could produce a monolithic chip in the next 4-6 months and dominate the high end for quite a while. I just don't see where nVidia can go at this point.
But, for the record, I am very impressed with the minimum frame rates of this GTX 480. If I had plenty of money, I'd pick one up and slap an A/M Watercooled cooler on it and be happy. But as it stands now, my GTX 280 (in RMA, at the moment) is about as loud as I can handle and from the tests, this 480 is quite a bit louder.
Anyway, lets give credit where credit is due.
nVidia has some really awesome minimum frame rates (honestly, I care far, far, far more about that than the average frame rate).
nVidia is faster by at least 15%
But, the down side
nVidia is loud...
nVidia is power hungry...
And if money is no object, where one could simply spent a lot of money on an A/M cooler, then I would glady upgrade to a GTX 480. But, IMO, if a video card doesn't come with the complete package stock, then I am not likely to buy it. Because spending $500 on a card, only to spend another $150 for a block just isn't worth it to me.
So nVidia is on the top again slightly. But I do not believe they are going to hold on to this lead long at all.