Nvidia hasn't had this sort of a lead in performance since G80 so no we aren't "back to normal".
I do agree that their prices are competitive at $350 and less.
There are also quite a few games that would be unplayable at 2560x1400 on a 7970 especially if you're like me and enjoy using SSAA.
It still remains to be seen if AMD hits the nail right on the head with a microstutter fix on their first try. I wouldn't bet on it. I hope that they do but I wouldn't make a decision expecting it. I still say 7950 crossfire is a hell of a deal even now. On a 60hz display that'll push framerates high enough to use a cap in the vast majority of games.
Have you used crossfire? In general it scales well. They've also been on the ball with new releases for quite a while now other than far cry 3 for some odd reason. The only real issue that I had was the microstutter which can be worked around. Since you use a 120hz display a cap really wouldn't be ideal for you.P.S. Crossfire really sucks balls at the moment.
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