For $199, yes. More than enough upgrade from the 8600GTS and sits nicely below the 8800GTS, hence 8800GT. But that plan went haywire as soon as we got reports that RV670 was up and running ahead of schedule. Now their line up is completely screwed up, nomenclature-wise.
It is highly unlikely that Nvidia waited a year to fill the gap in their lineup with a chip with half its units disabled. Think about it for a sec. Why would they plan to replace a 96/128 shader config (8800GTS-320) with a 64/128 one? That make sense to you from a cost perspective?
Btw did you think that Nvidia would launch their refresh minus the flagship?
Depends on whether you consider the GT a refresh or just late to the party.