...yes, and it was clocked at 233 Mhz, it had 4 pixel and 1 vertex shaders in comparison with 48 unified ALUs on Xenos, its not even close. Difference is bigger than 10x and considarably bigger than something like Xenos to HD4890 what you implied in your post.
Leap was huge in every way possible, and the time between the two generations was ~4 years. In comparison, this time is 8 years. So, to see expectations like 6670 or 4890 is quite interesting, especially since PC hardware has leaped so much that it would be a real shame if no body would take advantage of it. And what bugs me is the fact that enthusiast gamers on PC will be biggest losers in this kind of scenario because no body is crazy enough to push graphics like tech demo SE showed month ago on PCs. If consoles are underwhelming, than expect up-ports to PC, not the other way around.
One should consider though that this was at a time when the TDP of the GPUs were still within a reasonable limit and could fit inside console sized box (whatever that is) using a reasonably cheapish and relatively quiet (can be debated of course) cooling solution. Since then the GPU TDP has gone nowhere but up and the high end GPUs now use more watt than the whole system did then, so unless you want a big box, very noisy fans or what would most likely be quite a costly cooling solution, I can understand why the expectations this time around might not be in line with the absolute most high end cards out there...