So. If somebody asked you (MrK6) or you (PingVin) today whether they should buy a 5870 or wait a month for Fermi, you'd say....?
Probably say to buy what you want right now. Is this correct? Why wait for a month for Fermi when you can get what you want right now. Yes?
Which is why I'm having a hard time imagining why you guys might think that a Fermi2 Launch 1/2 to 3/4 of a year after Fermi 1 would make people wait for it and not buy Fermi 1.
Ya see what I did there?
Seriously?
Um, you reiterated the situation in your own words, what exactly did you do beyond that? I don't understand why that's a difficult concept. We aren't talking low-end/entry/budget here, we're talking flagship. People that buy flagship products generally have a different ideology than those upgrading out of necessity in the low-end/mid-range markets. Let me explain.
To answer your question, if someone posted "Want to upgrade to a pwnage video card, 5870 or Fermi?" in this forum right now, I'd ask them the situation first. First, if they were 1920x1200 or below, I'd say go grab 5850, because there is nothing in the foreseeable future that is going to be able to even touch that price/performance ratio. If they simply wanted the best single GPU money can buy, well, I'd have to split hairs. Right now we know all about the 5870 - Great performance, great overclockability, cool running with low TDP of 190W load/25W idle, quiet, some great features like Eyefinity, etc., overall a great package. From there, I would extrapolate based on what we know about Fermi - faster than the 5870 (I'd say 20-25% is a safe estimate), much higher power draw (current estimates I've seen point to the 250W TDP range), unknown aesthetic/environmental characteristics (sound, idle/load efficiency), new features but unknown how they work (NVIDIA Surround, etc.), higher priced (who knows how much?). The user then has to guess, based on those criteria, is it worth it or not to wait, also considering the potential price drops on the 5xxx series should they be necessary upon Fermi's release.
Now how does this relate to my Fermi 2 suggestions? Well, say you're someone like me and already have a 5870 or other high-end card setup. The 5870 runs every game I've played on it since September at 2560x1600 and maxed settings, I don't really need an upgrade. Now if Fermi was going to be the last video card to be released for awhile (haven't heard anything about a 5xxx refresh, let's say that doesn't come out until August anyway and isn't anything spectacular), it might be worth it to someone like me to buy Fermi should it be an acceptable part, just to tinker around with a faster part. However, if Fermi "done right" is being released 6 months later, well, I might just wait to try that one. It's a situation where the upgrade isn't needed, but just done out of interest/boredom.