the stock 399$ one sure, however the Asus Direct cu II one, the palit one, and the zotac one? not so much.
the asus direct cu II one is only supposed to be 20$ more expensive than the vanilla while offering less heat, noise, power than the 7970 while being 8% faster overall and 50-100$ cheaper.
no need to go 7970 at this point, and the 670 is in stock at most etailers now.
edit: @ GreenD it's expected to go for 499-549 AUD depending on the type. So cheaper than the 7970 by a decent margin (with the exception of your supplier deal which will likely translate to cheaper within ratio to the standard price of the 7970) with the vanilla 670 being neck and neck and the non reference models being faster.