D3D11 isn't equivalent in the amount of changes it brings with it to D3D10.1 vs. D3D10. Usually a new technology generation brings some significant architectural changes with it and no X11 is not all about some pre-existing part of the final required tessellation package of the API.
In any case any coming X11 GPU will have in its majority compliance for the requirements of the API and IHVs can worry about real X11 performance years later than 2009. However if you're offering say just 30-40% more performance with a X11 GPU compared to it's predecessor do you think it's a bigger selling point than having a damn fast or even the fastest "DX10" GPU with the X11 sticker on the box?
I'm still wondering why the hypothetical specs speak of 32 pixels/clocks or else 32 ROPs if you prefer. One good reason that would pop into my mind is that the efficiency in the rasterizing/tri setup part could have increased by a healthy portion. And that would be one detail enough to not think of it as a "RV770 with X11 compliance slapped on", but one "detail" that could deliver far higher performance than more than currently expected SPs. Don't ask me how they'll do I'm tapping in the dark here as anyone else.
There's a lot of low hanging fruit for further efficiency increases for both IHVs and developers have repeatedly mentioned that future GPUs might or should increase in the rasterizing department.
Besides what do you expect to hear before the official launch anyway? Take the other side of the riverbank; rumored to have 512SPs. Is that good enough to assume that it's also just a "GT200+X11" ?
Anyway my only other spot that somewhat worries me is that the hypothetical specs point in the smallest increase being raw memory bandwidth. But as I always say over the years it's not the bandwidth amount that matters but rather how you handle it. It could very well be that say 140+GB/s are enough for such a chip.
Or the entire story is wrong and we're facing another 480 vs. 800SP fiasco as with RV770