It will perform as if it were roughly 2 4850's.
However, unlike SLI, crossfire will not downclock the faster card, they will work asynchronously. That doesnt mean much to the average person, effectively the faster card wil just wait around for the slower to finish its job, but it does mean that in a game (such as a windowed dx9 game) that does not support crossfire you will get the performance of a single 4890 (assuming it is your primary card) instead of a 4850+4850. It also alows crossfire to be much more forgiving as far as what can be mixed together,
However, since the 4850 is so much slower than a 4890 your performance will only be marginally better with a 4850+4890 (same performance as a 4850+4850) as compared to a single 4890.