Yes, definitely wait, the FE cards are just a price gouge on early adopters. Later models will be faster, cheaper and fitted with better coolers. A lot of people have been justifiably been annoyed by the use of such marketing, ie. a name that implies something special about the product, because presumably "reference" doesn't get sales.
Probably wise to wait for AMD@s 480 to come out aswell. Not necessarily in order to buy the 480, but because that should also help shake up the pricing a bit.