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Going on all the rumours so far, here is my take and I'm an avid Columbo fan with some Quincy thrown in.
GK110 (call it Big GK) is still in production. It's an insanely powerful gpu but is a bit difficult to make precisely.
AMD release the 7970 and NV are genuinely surprised, expecting something more powerful.
NV realise they have a GK part (104) that was not destined to be directly competitive with HD7970 but now seems that with a little work, may well be (thus the delay).
Initial pricing was for GK104 at mainstream levels. On seeing it's competitiveness with HD7970, NV decide to either capitalise on HD7970's price point and/or the poorer than expected yield from TSMC forces their hand to up prices (as per wafer cost is higher).
This all leads to the release of GK104 (originally a GK660 labelled part) being upped to the top spot (GK680) to take the crown.
Big GK is still coming and will be a monster. But the recently resurrected rumour of a dual GK104 part makes Big GK (as initial rumours suggested) a Q1 2013 part (possibly the GK780).
Dual Tahiti (7990) will be brought in by AMD to counter either the GK680 part or the GK690 dual part.
That's my purely personal opinion but it's based on sound logic of all the rumours thus far. And like I said, I watch Columbo - logic and reason shall conquer.
Oh... one more thing.
Hi Columbo. My name is Sherlock and I got to the same conclusion some time ago.
These slides are based on an old leak which we don't know how accurate were and anyway 95% of the people laughed when they saw. I mean, c'mon "performance" chip to be better than AMD's high-end? This must be a bad joke?
Well, in the meantime the joke is not so much... a joke. Add to this old chart some driver improvements and tweaks and 20% over the 7970 isn't too far fetched. But that was not my idea, it was Dr. Watson's so don't blame me if it's less than 20%...