GF100 has 1 billion more transistors (almost 1/3 more) than Cypress yet, it is very unlikely it will beat Cypress by 33% in benchmarking. That is innovation on AMD's behalf or a lack of innovation on NVIDIA's behalf.
Unlikely? That's not what they are saying. I know about marketing and all, but I don't think they are lying about their internal numbers this time (a lot of people have seen those benchmarks are saying the same too), inflating them yes, lying no, as in they are saying 60-80% faster but it's actually 30-40% faster. Anyway, I'm still 95% convinced that the GF100 will be faster than 2xGTX285 and hence the HD5970.
EDIT: The reason I think they are not lying and are actually saying the truth is that lying about performance under this situation would just hurt them. They are very late and people already have their thoughts or otherwis are waiting, performance numbers are not going to change any purchase decision right now. Whoever decided to wait it will continue waiting and whoever decided to buy an HD5xxx is waiting for one to be available. Lying would just hurt them, because it would anger the ones that are waiting once released and would not buy the card+ Nvidia would make their fame even worse than it is. Nothing will help them now and that's why they have not disclosed any hard numbers.
Anyway innovation and performance-per-die have nothing to do with each other. Fermi has a lot of new features that potentially increase performance and make it a much better GPGPU, that is innovation. Cypress is just a mirrored RV770.