When you look at this card logically, it is a good/great card. This is a low end card which matches last years mid-high end offering. The price is about $20-30 too high right now, but pretty much has to be, so that all old stock can be cleared out. I am willing to bet that a price cut will happen next month, which will make this card an awesome buy. It is pathetic that all people see is the price.
At first that seems quite logical, but then you have to ask yourself why they would release a video card that's going to be knowingly overpriced in comparison to its competition from other AMD cards. I'd imagine they're looking to sell them, so clearing out that old stock doesn't account for the price. Why not make the stock card $10 more than the current 5770? That way they'd at least have a better chance of selling them all and that small price difference would account for the 28nm shrink. My guess is these aren't that cheap to produce and that 28nm fab from TSMC, though great performing as far as yields go, isn't that cheap.
It's definitely an awesome GPU that improves upon the power-to-performance aspect drastically, along with its little sibling the 7750. But there are still plenty of the older 5770 and 6850/6870s around for cheaper. The price is something that will fluctuate depending on availability of the older gen cards as well as what nVidia will bring to the table so it's not going to be a lasting issue. At the moment, though, it certainly is and it's because of the performance and price of the older gen stuff :/
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