Even if this all just pure speculation, I highly doubt ATI would both a 512 bit bus on R700 with GDDR5. The bandwidth would be ridiculously high (~ >200GB/s), not to mention the COST of such a board.
Unless R700 actually makes use of that massive bandwidth, I doubt ATI would go ahead with it. They would at least cut back on either of the two--stick with the 512 bit bus and drop GDDR5 (in favour of GDDR3/4) or vice versa.
As for my personal thoughts on R700: I'm still hoping that R700 (the actual high end chip) ends up being something like the 800 ALU rumour--a traditional monolithic GPU design:
- 800 ALU's
- 32 TMU's
- 24 ROP's (+hardware MSAA resolve?)
- 512 bit bus
- 1024MB of GDDR3/4
- ~200w TDP
Basically, something that R600 should've been.
Anyway, we'll just have to wait and see...