I think ATI didnt expect Nvidia to have next gen out so soon, they thought they had atleast another 6 months prolly.

Now they dont have a choice its all hands on deck and they will have something competitive out come November December. Late but good chance 7xx supply wont be the best till septemberish .... so its damage control , its not ideal but I hardly think this is the first time someone gets a 6 month jump on the other.