Actually, we don't really know that. If an application really shows a bottleneck somewhere in tri setup rate (either due to just lots of vertices or tesselation), then yes it appears GF100 would blow it out of the water.Even a overclocked refresh for AMD will have little chance against this card it appears.
And certainly, despite Dave claiming improving tri setup rate would only improve performance by 2%, I think we've seen a fair bit of tri setup rate limitations already. Unless I'm missing something, how else do you explain 2x5770 are sometimes more than 20% faster than a single HD5870 (for instance here, http://www.guru3d.com/article/radeon-hd-5770-review-test/16)? The 5770 is very much a half 5870, with two of them you get in theory pretty much the same throughput in texturing/alu, rops, memory, except inefficiencies (depends heavily on game) due to crossfire, but you have twice the setup rate.
But certainly, other games don't show this, so I think sometimes indeed there will be not much benefit of the increased tri setup rate, and in other areas GF100 still has at least theoretical disadvantage (alu, texturing, though again some other areas it also has its advantages, rops, memory bandwidth - despite I think the 1200Mhz gddr5 clock suggested by hardware.fr is too optimistic).
I'd also agree the solution nvidia has chosen should allow quite nice scaling, but it's of little use right now as they can't scale it up for now, and on the lower end parts it'll probably not help much if anything and likely still be a more complex solution as the single global setup unit AMD uses.
Oh, and those 448 shader units parts are really strange. With 4 SMs per GPC, there has to be some asymmetry somewhere...