First, GTX 280 only leads HD 5870 by around 15-20% on average
Second, i got a reliable source that i trust saying that GTX 580 will only be on average 15-20% faster than GTX 480 in real world gaming (while it will be a BEAST in 3DM Vantage Xtreme).
So, perhaps you should tame your expectation over GTX 580 a bit, it will be a decent refresh but not a second coming, never was. If you can do that, then perhaps my expectation won't be too extravagant in your eyes.
With that 40% jump, AMD has made a turn around from basically 15-20% behind in absolute performance into a level player in the enthusiast segment, still using the same 40 nm process node.
Regarding pricing, with around the same performance but costing around 10% less, i think that's plenty fair & competitive in the first place, already factoring nVidia lead in (propietary) features department.
Regarding OCing, we shall see, both sides have their own advantages & disadvantages regarding this. Serious OCer is still a small segment, even among enthusiasts, and OCing a beast like those cards won't be a walk in the park like their smaller brothers (GF104 and Bart based cards).




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