I don't know when you put this against the PC 290 PCS 4Gb that was a $230 card -AR most all of May and even lately $240 -AR, I think the price is just not aggressive.
I want to believe the PCS 290 had 1500 MHz (6000 MHz) same as a reference 290 received, along with
W1zzards 290X PCS review. Sad most of the 8Gb now are like this, specified to run at 1250 MHz (5000 MHz effective). For these 390 I'd rather it have 4Gb of even better memory than 8Gb lower grade. That said, I was surprised W1zzard got them to 1730 MHz; 15% overclock that's just crazy.
There must be a improvement in ACIS quality on the power side, but seeing we're looking at original Hawaii @947Mhz and this now at 1010 Mhz (7% increase), that bump in clock and the extra memory used the improvement, while the 290 PCS was 1040Mhz and honestly looking at a recent Hexus review (Feb 2015) on the 290 PCS I think you could see it was receiving that same power improvement at that point. I see little news on that front.
What is interesting is the 290 PCS at Hexus offered up a 1110MHz core/1415MHz memory OC, while W!zzard we see a 1090MHz core/1730 MHz. The core is not all that out of bounds, but dang that memory I was not anticipating. Who cares if there was a bios-wall, isn't that like 38% over it's "lower grade" 1250 Mhz specification? This memory is running like crazy as it did with the MSI 390X W1zzard tested. It seem this lower-grade memory is better than older better spec stuff.
All said I'd rather the 390 (non X) like this been a 4Gb card and a MSRP of like $270. Adding the extra 4Gb of memory and jacking it in price to 970 level tells me AMD knew it didn't want to make this into a War. Just offer same performance and use 8Gb as their point of difference... and hold to a similar profit. Perturb/disturbed Nvidia and they can eat Hawaii pricing in one mouth full, given the volume and slightly smaller die size.
I agree with W1zzard if AMD might've had a $300 MSRP, that could've made a 390 the germane and affordable card for 1440p; as it seems to be out in front of the 970 more then not, especially in the trenches at 30-40 FpS.