Why would that be the case? It seems AMD is dead set on using 28nm on its next graphic tech, which means at the minimum its going to be a 2011 part. That's a substantially longer wait. The sketchyness of 28nm just makes it actually timeline even less reliable.
Even if the gtx 480 is as fast as its hyped up to be, then AMD can still make money selling it for a price lower than it is at the moment. E.g 5870@ 299 5850@229-249 and the 5970 at $549 or $499. Both All of AMD parts right now are small chips and thus can be sold at much lower costs and still make a profit.
AMD is in no rush, the 299 and under market is quite safe for them and its actually quite a profitable area.
But in terms of upgrading for the sake of playing directx 11 games, waiting is actually not a bad idea simply because the lack of games at the moment. Dirt 2 really isn't that good and alien vs predator seems sketchy.





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