Couple of comments here:
(1) Power consumption looks pretty acceptable here. With a ~10% improvement in performance, we have a 3-5% increase in idle and load power. That's good to see, but I am curious how much the power usage will climb as the reference clock is increased. Will this continue to be linear, or will we see it increase more exponentially.
(2) The performance increase seems to mirror what Nvidia did with the GTX 260 --> GTX 260 C216 last fall. The card was tweaked and we saw a ~10% increase in performance, at slightly above the previous price point (now they are below).
From a marketing perspective, this card makes a lot of sense. It helps fuel that this card competes with the GTX 280, the 4870 competes with the GTX 260, and 4850 competes with the GTS 250. I don't neccessarily agree that this card will quite meet the GTX 280/285, but it will be "somewhere in-between" the GTX 260 and 285. Both companies can cherry-pick their benchmarks as much as they want, the fanboys can scream about how one or the other "pwns at this game", but that is likely the fact of the matter.
This card will be a success if they can keep the cost ~$200.00-220.00. If it goes much higher than that, it just won't be worth an extra $75.00-100.00 over a MIR special on a 4870 1GB card at ~ $170.00.