Do remember, even if we all are attracted to the fastest and best, these products are marketed towards and intended for the niche crowds. They don't expect the average joe to pay 600+ for a video card. They know the real earners are in the 200-300 range and this is where the company's strengths show (particularly the 8800gt and 3870 as of now).
I have no idea what the production cost of a GTX 280 would be but the profit margins are probably not high as one would think. For this reason again the profits are in the more affordable mid-low high end range which usually involves cards that both cost less to make and that are also more widely distributed and in larger quantities. You can't honestly expect anyone to believe that they'll make more on the GTX 280 than they've made with G92. Although the cards yields haven't been ideal they've sold like hotcakes and are still going strong.
Sure I don't like the idea of paying this much for a video card but thats the price of admission. If you want to pay it, its totally up to you. If not, do what 95% of everyone else does and go more the more affordable alternative. Value is in the eye of the beholder as I like to think. Even if it is steep, if these cards last as long as the GTX has, I'll gladly pay the asking price. Again its down to what your willing to pay.
I also highly doubt one will manage to find a GTX 280/260 at less than MSRP any time soon after launch, unless availability is abnormally good. Remember what the G92 pricing was like during the first month or so of its release.
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