I'm going by OCUK and Guru results, they couldn't break 960 on the core, now that may change if we can up the volts but the 470 looks to be the better buy if you intend to overclock, no overclocking then the 6870 maybe the better buy depending on where you regard physx and 3D vision in the grand scheme of things.
The 5850 without overvolting overclocks like crap, default voltage I can't get above 850Mhz, with overvolting I get over 1Ghz. Not overvolting your gpu for extra overclock is just, dumb frankly, and indicative of nothing. Fermi's won't overclock well without extra volts, neither will Cypress, etc, etc.
The question is what will these cards do overvolted, same as Cypress, or less shaders and less heat, can they push up the clock speeds further, does the memory overclock further on average than most Cypress cards.
We don't know the answer to that yet.
As for higher minimums from one dodgey Chinese review, most of the graphs I'm seeing suggest that AMD has lower minimums in half the pages I bothered to look at, and in most of those Nvidia gets a significant boost in minimum framerate from no AA to whatever AA they went with.
The last page I bothered looking at was Lost Planet, no aa, mins of 17fps on the 470/480, 4xaa, the 470gtx gets 19fps, and the 480 gets 18fps mins.
In Crysis Warhead, the 470gtx goes from 9 fps to 14fps when you enabled AA, the 480gtx goes from 16 to 14fps when you enable AA.
IE< those results are rubbish in general. Even then half the games AMD has a higher or equal min fps on the 6870 to the 470gtx, a frew results have the 6850 ahead of the 6870.