Max overclock 7970 vs max overclock 580gtx is a no contest, its exactly as much faster than a 580gtx I've said it would be since 6 months ago, and exactly as much faster than 6970 I said it would be.
It turns out you were pretty much right but at least admit it was for entirely the wrong reason:
It will be completely unsurprising when the 7970 releases with clock speeds between 950Mhz and 1Ghz, and even less surprising will be, if you overclock just about any gpu from 950 to 1Ghz, a sub 5% overclock, you would see MAYBE 3% in real FPS gain, which other than being not noticeable in use, also pales in comparison to a 70-80% performance gain from shader/architecture, memory clock, memory bus, and everything else.
IE clock speed is all but irrelevant in this situation, let's say you expect 1Ghz clock speeds, and get 900Mhz, because the card won't always be clock speed limited, this will likely make barely a 6-7% overall difference in the speed of the card........ or less than 10% of the total expected improvement in card speed.
Clock speed is the LEAST important difference in terms of the specs in a new gen card.