Skyrocket, as Phoenix said, re-releasing a respin to get full yields a full year later is not turning corners, its honestly a little pathetic(if they'd done a full respin after the first cores came back last July/August, they could have had the "580gtx" for April, it was instead their insistance on doing a full respin but praying a basic spin, 3 times, would fix the problem that took longer anyway and resulted in a non 512sp final part.
Nvidia lets see, don't have a low end part for Fermi, their mobile stuff is doing horribly as the power requirements for all the mobile Fermi's are ridiculous. In the meantime they've firesaled their midrange to gain a little marketshare, which are bigger than 5870's in size and cost yet sold for less than a 6850.
What corner did they turn exactly?
As for Duff man, theres quite literally no reason to assume Cayman won't match Cypress for power per watt. Its incredibly rare for a new architecture to offer worse performance per mm2 and per transistor, infact I'm not sure I could name one.
Nvidia also hasn't really improved power efficiency. A 260gtx offers worse power efficiency than a 280gtx, a 5850 worse than a 5870, a 5750 worse than a 5770, etc, etc. A full core with bits disabled offers worse power efficiency, thats simply how life works. We've seen that a 580gtx in furmark with the power limiter turned off uses noticeably MORE power, about exactly what you'd expect in reality. In general gaming improved performance with less waste from a cluster turned off.
Thats really not here nor there though, not a new architecture, marginal power efficiency gains, 90% of which are just being a fully enabled core rather than improved anything.
If Cayman uses the same amount of power, the same amount of shaders and offers 20% better performance, it would you know, have 20% better percieved power efficiency.
Assuming its a 2GB card, then memory power should go up on its own, we'll have to see, the actual shaders/rops/everything else would almost certainly be improved in a new architecture, thats just how life tends to work. More memory can alter the exact power draw, double density chips with a bigger power draw and higher speed, higher voltage could use an extra 10% power, which could drop the overal power efficiency. But then compare power vs a 2gb 5870 and you'd see the probably efficiency increase.