Being really helpful guys, I appreciate it.
Is more power consumption a big deal? Do I basically just need to pay closer attention to keeping my hardware cool? 290 is winning so far.
No, the power consumption and heat are generally overstated, there most certainly is a difference, but generally nowhere near as much as people like to chalk on about.
The coolers on the 290 however are generally better though to combat this. I have my Tri-X 290 (this, the Vapor-X and the powercolor are the best cooled 290's imo go for the Tri-X) running at 1100/1500 and undervolted by 6mV and my cards fans go up to 45% at 80c, during gaming it gets around 78c and the fans are audible.
That being said, if I run this baby at all stock, it never gets past 75 and is damn near silent. (Just check some Tri-X 290 reviews, this thing is amazing)
If you have a PSU that is at least 500W you will be fine with a 290 as long as you aren't doing LN2 level overclocking, although personally I would go with a 550W+ just so the PSU runs a bit better.
Power consumption you are looking at between 40-100W difference depending on who you ask and benchmark etc.. although if you run very stressful applications (crysis 3, GPGPU stuff etc) and start to OC the 970 it starts drawing almost as much power as a 290, nvidia's TDP are massively overstated and really go out of whack when you start that stuff.
At stock a 970 has more of an advantage though, being close to what nvidia claim, stock 290 is around 240-260W with stock 970 being like 160-200.
http://www.tomshardware.com/reviews/nvidia-geforce-gtx-980-970-maxwell,3941-12.html
http://www.anandtech.com/show/8568/the-geforce-gtx-970-review-feat-evga/16 //Ignore the 290/X results.. these are stock cards which are very terrible
That being said, R9 290(X)'s also really guzzle power if you overclock them (albeit, you have to overclock them to very high levels):
http://www.tweaktown.com/tweakipedi...rclocked-power-consumption-numbers/index.html
I have 2 running on an 850W and measured during stress tests I get ~800 pulled at the wall so ~720W for my system (see sig), I would guess a decent overclocked 290 is around 300W, which is quite a lot, but given that overclocked 970's are in the 250W range, its hardly a massive power increase. Never measured this rig at stock so I don't have those numbers sorry.