Lets hope 6870 is slower than GTX 580. That will force ATI into releasing a "budget" performance card that almost matches 580 power, rather than another "expensive" performance card with similar of greater power.
90% of GTX 580 performance for sub £300 will be nice to see. The 6970 will of course beat GTX 580 by a fair margin, but it will also ~£500 at launch making it unrealistic for most people.
I'm here to grant your thoughts true. Are you ready?. The 6870 is slower than the GTX 580.

I know it's a typo but I had to pounce before a fly ninja edit made me look foolish.
I'm not going to speculate on the new cards too much. AMD and Nvidia compete like they always have so it is going to be close. There has been a few hiccups for both Nvidia and AMD through time but today, here we are as they duke it out again.
The GTX 580 is a great card apart from these specs were meant to be for the GTX 480 originally. So although Nvidia have brought out this card first before AMD, they didn't have to leap through hoops of fire to do it. With all the great cards from both companies competing at different price points then I see this ending up pretty close in terms of performance.
It will be close and Nvidia have a strong performer for AMD to come against.