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But if you can get a 4870x2 (with Accelero Extreme) for less than 2 5770's then I would say the "old tech" still outperforms?
Not really so you would need to save lots on a 4870x2 to amke it worth it. Plus new drivers out soon which promise even more performance out of the 5770 and they are dx11 and some games are starting to appear which support that.
have a look here and see if this makes your mind up
http://www.legionhardware.com/document.php?id=862&p=0
The Radeon HD 5770 performance when working in Crossfire mode was impressive to say the least. Although we are not normally advocates of multi-GPU technology, in this instance it does make sense. The Radeon HD 5770 configuration was able match or beat a single Radeon HD 5870 in almost every game, and costing around 16% less, that is pretty good value.