Speak for yourself. There's no way I'll ever drop $500 on a video card. If AMD responds to the 670 by dropping the 7950 to $300-350 MSRP, I'll buy one and so will droves of other price-conscious gamers.
You just made my point for me. If nVidia cuts prices you won't buy an nVidia card. You'll just wait for the inevitable AMD price cut and buy an AMD card. So why would nVidia cut prices to begin with?