I think that if we study what happened from the GTX 580 to the GTX 680, we will be around the ballpark of what to expect.
GF110 was 40nm, 520mm2 and had 3B transistors
GK110 was the first 28nm, 294mm2 and had 3.5B transistors.
This resulted to the following
So the 680 was 30% faster and 70% more efficient.
Going from 40nm to 28nm we had 2X more density, but going from 28nm to 16nm we have 3x more density.
Keeping in mind that we had 3 28nm iterations, we could see 4 iterations with 16nm, lol Especially if you take under consideration that shrinkage is getting ever more difficult.
The 980ti/TitanX have 8B transistors and are 600m2 at 28nm.
In order for Nvidia to give around 30% more performance, they would need around 10B transistors. I know that 10/8=1.25 but I guess the extra 5% will come from die savings from the simpler controller of HBM, IPC improvements and possibly higher frequencies. Heck it may even be more than 5%.
So for 10B transistors, we would need 600mm2+25% = 750mm2 / 3 for 16nm density = 250mm2.
If I am not completely wrong with my calculations, yeah that could be possible.
They could add 1.3 times transistors for the next iterations, so we could see
250mm2 X1.3 = 325 for the second
325mm2 x 1.3 = 423 for the third
423mm2 x 1.3 = 550 for the forth and call it a day
As for the prices the 680 came at 450 so here's hoping they can stay below 600 this time