From what it looks like, Fermi isn't as bad as people claimed but the $450/$550 prices are high. At $400/$500 Fermi would be OK, and even this wouldn't force ATI to drop prices.

470 performs equal to 5870, has more features but draws more power, which means a 5870 level price is justified. And if at %25 faster than 5870, a 480 at $500 is good too. But like I said, even those prices wouldn't force ATI to a price drop.