It is a typo, they meant instead:
With a performance target of 1.2x over the HD 4770 and 1.6x over the HD 4750
HD 4770 is 750 MHz core 640SP with 800MHz GDDR5
HD 4750 is 750 MHz core 480SP with 800MHz GDDR5
So esentially they proposing at least 725MHz core 800SP (probably 5750 specs?)
HD4750 is identical to HD4770 SP, TU & RBE wise, as well as membus wise of course.
The differences come from clocks and memories (Does 4750 use GDDR5 too?)
And don't forget that 4730 (and 4790) have 640 SPs too, though they use RV770 & RV790 instead of RV740