I'll continue to watch as it plays out, but right now my stack looks like R290X < 780 < Titan < vmod 780 < vmod Titan (overall performance).
Presumably we'll have to add the GTX 780 Ti in there as well, and the R290 will play a key role because I think it will be close enough to the R290X and Reference 780 that it will become the price/perf choice going forward for the small group of users that pay $500 for video cards and think of price/perf first and foremost.
However the more I see, the less it seem the GTX 780 is overpriced, maybe -30 on reference and -20 on non reference? R290X doesn't come with a triple A title, and with the shortage of cards from AMD the price is going up on the R290X. From what I've seen 780 reference/AM are faster than R290X on water, and 780 vmod with 1.3 using AM like Classified or HOF are a step above even that.
As far as Mantle and BF4, G-Sync seems like a more than effective counter going forward. Granted you have to pay extra for G-Sync and obtain a new monitor but more fps locked in to the monitor refresh rate seems like a step backwards compare to less fps but smoother tear free animation on screen without the input lag.
Interesting choices to be made, for sure.