It is. It brings new things to the table over just a performance increase, IMHO. The chip design really isn't well suited for 40nm, though. It needs a die-shrink (Kind of like the 65nm -> 55nm shrink of the G200), but it seems that NV might be looking way into the future here, which is good.
There's no clear winner as of yet, because DX11 games are few and far-between, so the battle of who is better will go on for a while yet. I'd like a pair of GTX480s, no doubt here. I might actually make it happen, too.
Cameron: Core i7 2600K 4.5Ghz, MCR220, 2xMCR120, MCP655, ASRock P67 Extreme4, 4GB DDR3, 2xOCZ Vertex 30GB RAID0, GTX470, 2xHD5670, Modu82+ 625W, TT Xaser VI.
Neuromancer: Core i7 975, DFI DK X58-T3eH6, 12GB DDR3 1333Mhz CL6-6-6-15-1T, 3x9600GSO 384MB, Hiper 880W, TT Xaser VI.
Administrator of a 40 core Hadoop