They may be starting with 40nm, but unless they planned to release an x2 part, or planned to keep an option of an x2 part (in reserve, should it be needed), it seems most likely that they would have used nearly all the power budget to build an uber GT300.
Any particular reason they would not do that?
We're off topic in this thread; it would be better if we'd continue this kind of conversation in the relevant thread instead. But since we're here a very good reason to not do that is while they changed their so far strategy to not go for the smallest available high performance process up to GT200 and went for 40nm with D12U, why would they also be as dumb to maximize the risk factor which is already high with such a new process. Or even better if they would have as you say, make an estimate when they'd be able to release that one even that now TSMC's 40G is on an upswing.