Major architectural changes are introduced to market several years after the designers made a prediction what changes would pay off in the final design.
If the chip design pipeline waits until a feature pays off, it won't come out for two or so years.
The choice is to pick possible winners as best you can way before you know the answer, or guarantee you are late to the party.
This is a popular line around here, but I think it's largely a fallacy, and furthermore not really applicable to internal implementation details such as the Vec5 vs. Vec4 or balancing of ALU vs. TMUs vs. ROPs.
As you say, the chip design pipeline is at least 2-3 years when it comes to something like Cayman. (Anand gave a year of design that seemed reasonable.) Its new architectural features have been known internally for a long time, down to the nittiest of gritty details. So when the product is available for consumer purchase, unless the driver team has been completely sleeping at the wheel, the drivers should pretty much exploit the new design. It's running DX11 code. It won't get more efficient with time.
And when we are talking about externally accessible features (which is not really the case with Cayman vs Barts or 58xx, since they are all accessed through DX11), we have to remember that we are not talking about an open market, but what is effectively a duopoly. There is no way that software is going to require new hardware features before they are available. And from availability in hardware to widespread use in software there is a significant lag. A few sponsored titles may make use of a new feature, but developers need to sell their games to a market, and if the installed base isn't there, a new feature will be either completely ignored or possibly optional. Or put another way, if a feature doesn't have the blessing of Microsoft and the backing of both IHVs, it's effectively dead in the water, and even with full support it won't see widespread use until there is a substantial installed base. Did lack of TruForm hurt nVidia much? Did ATIs lack of SM3 ever matter outside forum fanboi bickering?
Pretty much by definition, there is no way either ATI or nVidia can be surprised by, and therefore too late to market with an essential feature.
So no, when I look at Cayman, I don't see a design that is ahead of its time, I see a design that, for reasons that aren't obvious, didn't quite hit the mark. There is no substantial benefit to be seen, on the contrary it even seems to lag behind Barts in efficiency. But then again there are other aspects of it, such as the new power management and AA mode are welcome additions to Barts. It would be gross exaggeration to call the design a failure - it simply hasn't quite lived up to what could be expected of AMDs reengineering effort.