Pretty much guaranteed that Nvidia will have something that beats the 7970, but how long you have to wait for it is the question. If you can wait, then why not. If you need a card now with your budget and wants I would say a GTX 570/HD 6970/GTX 580/HD7970 would all serve you well. The only problem could be the 1.28 GB ram on the 570 (unless you get the 2.5 Gb version). Its really your call on if you want it now or later, and what you really want to spend on your graphics card.
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Desktop: X3 710, 4GB DDR2 1066, MSI Cyclone GTX 460, Seasonic S12II 500W
Away from home light Gamer: Acer Aspire 15.6", A8-3500m, 4GB 1333
Internet/General Use: Lenovo B570 15.6", i3 2330m, 4gb 1066mhz
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