If NV can deliver at a competitive price, then I wouldn't say it's all that bad.. hardly worth 6 month wait just to be on par but hey.. take what you can get (PRICE WARS !!! )..
470 had better be decently (10% minimum) faster than 5870 overall, other wise it'll take a financial arm or two on nv's part to price 470 next to 5870. But yeah, price wars are good.