Are you seriously thinking this could compete against Cypress? 64 low speed TMU and 32 low speed ROP, along with slow rasterizer and at most 1/3rd of Cypress raw SP throughput is clearly not enough, even if we consider Cypress "bad" scaling is due to the GPU arch itself.
Yes I do believe it would be competitive with Cypress's salvage part (HD 5850), given the architectural differences and improvements over GT200, which could make this "half GF100" on par or a bit faster than the GTX 285, which competes with the HD 5850 right now, on most occasions.
Still, a while back, I revised my speculation of this chip's specs and added the same number of TMUs and ROPs as the GTX 285 (80 TMUs, 32 ROPs), which would make it a 320 SPs part. It should have absolutely no problems beating the HD 5850 across the board.