The shader differences is huge. At 1700, those shaders are more than 33% faster, with the extra addition in shader power, that should mean 40% more performance than a gtx 295. That should make it competitive with the 5970. If it's 10 percent slower than this figure, it is still competitive with the 5970.
I expect more linear scaling from NV architecture, because it is a new architecture and I don't think NV would fool around when r7xx caught them off guard.
1700mhz is pretty fast for shaders those, I am not sure NV clocked it that fast.
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