That's what mine was doing with standard settings. Balanced, crash. Power saver, less so but at times crashed too. Turbo - instant crashes.
Undervolted it, decreased clocks a tad and all was good, with really nice memory oc and undervolt. So I was happy. New driver and the same card works with 0 crashes in any of the power modes! I was sure it's faulty but it would seem drivers were at fault all along... I want to be upset with AMD but instead I'm just happy I don't have to RMA it and it works really well now.
Too bad so many people sent them with RMA when in fact they might have been ok, just drivers weren't... Waste of time for these people :/