This is exactly why Ati can save money, they use crappier memory in the "same" chip. Memory has a much larger impact on performance than the core speed. In fact, the core is often starved of fast enough memory, thus you can't get much of a performance increase if your memory can't feed info fast enough to the core.
I'm pretty sure that the AIW Radeon has only 5ns memory, which can barely get by at 200Mhz DDR, or 400 effective. Some of the radeons even have 5.5ns ram which can hardly score 180Mhz, or 360 effective!
In other words, it isn't bad to have a higher core and lower memory, but you won't see much a difference between an R8500 at 230/380 and 275/380. There is a huge difference if it were 230/380 and then 230/550. Memory is paramount in video card performance.
"When there's a will, there's a way."