Looks like AMD have responded pretty fast to the release of the GTX295
http://en.expreview.com/2009/01/10/amd-cuts-price-of-radeon-hd-4870-x2-in-response-to-geforce-gtx295.html
http://en.expreview.com/2009/01/10/amd-cuts-price-of-radeon-hd-4870-x2-in-response-to-geforce-gtx295.html