Though one has to wonder if that perf/watt win is because of the design, or because of the switch to 28nm, that allows moar transistors to be added.
Looking at the power usage of HD79xx cards, and the relative lesser power use of GTX680/670 , it appears that the HPC/compute part of the chip uses quite a lot of power, and die size.
With AMD getting a easier design to fabricate for TSMC, they could afford to design bigger chips. Plus, AMD being the underdog, they
had to make a master-of-all chip . The biggest criticism of HD79xx is the power usage.
The gtx 680 was purposely compute gimped so they could sell the $2250 cards.
That depends on if you are a gamer, or a HPC engineer. Gamers should be happy that the GTX680 uses lesser powr than HD79xx, for equal per in games. (larger/smaller depending on the game an drivers)
As Nvidia has ~90% of the
GPU HPC/Pro market, they can afford to sell the "full" chips at that ridiculous price. AMD is underdog in HPC too, so it cant price their chips at the same price.
Same story as Intel and AMD. Intel can sell insanely gimped chips at high prices, because they have almost a monopoly. Its just how economics work.
Never ever believe that AMD/ATI wont do the same thing if they had a bigger share of the market.