My take on the situation.
The price cuts are great and welcome. They feel better to a lot of people due to the gouging this generation, however the Titan / 780 ti is the 580 successor.
It appears that NV is taking notice and wants to sell cards even after the 290x and 290 are released so they are fitting the cards into the P/P lineup closer than they have in a while.
In the end the
290x offers a titan experience, not a gtx 780 experience.
http://www.hardocp.com/article/2013/10/23/amd_radeon_r9_290x_video_card_review/16
In the P/P ratio line, they are now sitting pretty well according to performance.
780 = $500 and up
290x = $550 and up (10-15%+ performance)
presumably with the following two additions very soon:
780 ti ~= titan + 5%?, $650+
290 ~= 780 performance, $400-450?
780 vs. 290x
I would either go custom 780 or custom 290x so it's not clear until they are released for the 290x. There's no way I'd buy today before seeing the 290x oc models, 290 and 780 ti. My suspicion is that NV is really preparing for the 290, as much as the 290x which clearly tromps on it. The 290 could be the new hot card still, and I hope these price cuts promote a $400 or less price tag, although it may not.
In the end the consumer is finally getting results, NV is forced to reduce the absurd gouging, AMD is forced to consider pricing carefully and hopefully notices the cooler criticism.