What did you guys expect? Cue wall of text.
Memory bw (for compute units) is tied to both this arch's biggest boon and largest drawback...as they also do special function...been saying it for years. This seems to have improved the bw thirst some (larger cache per CU or something to that effect?), probably very purposely so 2048 at ~10xx/7000 actually makes sense when using all shaders (for extra compute effects) vs on their old design where it only would have been enough for the ideal shader-special function/rop efficiency of most games; closer to 18xxsp (roughly 2/3 Hawaii)...that would've been a HUGE waste, especially given how amd is now marketing their stack. More on that in a second.
Hynix memory might clock slightly better (and hence scale performance more linearly), but still...Pretty close to a 7970ghz or so best-case it would appear, which will probably also be the stock performance of 285x. I don't think anyone would be surprised when after they release 285x, this becomes very close to $200-220 and 285x replaces it at around to slightly above this price (perhaps starting even higher). This intermediate period is likely purely for stretching profitability out: 285x can't compete with 770 because of bandwidth and power efficiency (outside of compute performance) issues; this part
can compete with 760 (especially when compute is heavily involved). 760 is currently around this price, so they start with a msrp reflecting their strongest aspect. 285x must be cheaper than 770 by the ratio of base performance, even if their 'msrp' tries to inflate it to a proportionate level it is faster in compute. This hand has been tipped as their game-plan given amd tried to not only market this product performance via Firestrike benches, but also the rest of their stack using the same compute-heavy bench while expounding their value as higher (of course it is, price has to reflect avg base performance in the market). Given all that, plus gm204, 285/760 prices will fall, 285x price will fall. 770 will probably stay similar depending on gm204. Do not be surprised when I estimate: this is your typical refresh amd has always done...it's just being marketed differently so they can adjust price of new products with the market to their actual ideal price, rather than start there and bring margin to zero.
Give it a little time...even if you don't agree on the logic I think they're using, prices usually fall 15% after launch (on lower-end/refresh parts) relatively quickly. Always have as far back as I can remember. The difference between old amd/ati and new amd (after Rory Read) is new amd figures this drop into their launch msrp...now they just found a way to justify it.
I'll add the part you're looking for btw...Looking at conceivable ranges, this is probably the smallest amount realistically amd could have said is a better base part. If you take compute away, is it purely only the better choice at the exact same price. In other words: straight competition...and knowing amd, it'll probably actually be cheaper all said and done.
ASUS GTX 760 DC Mini1130 MHz1810 MHz84.3 FPS
MSI GTX 760 HAWK1225 MHz1880 MHz90.9 FPS
MSI GTX 760 Gaming1180 MHz1960 MHz87.8 FPS
NVIDIA GTX 7601140 MHz1760 MHz79.2 FPS
Gigabyte GTX 760 OC1190 MHz1850 MHz86.6 FPS
Palit GTX 760 JetStream1140 MHz1750 MHz82.9 FPS
EVGA GTX 760 SC1220 MHz1840 MHz88.8 FPS
ASUS GTX 760 DC II OC1175 MHz1840 MHz86.5 FPS