i think you missed my point, i'm saying that they could've done better with the performance if they left the fermi design alone and just went for the 28nm die-shrink. this could've took them less months to develop since the design is already there to boot, though a few tweaks so it could profit the 28nm die-shrink.
the switch to 28nm should already have a lot of bonus effects even if you didn't change the core design, i mean the benefits of the 28mm die-shrink is less watts per performance, plus a larger headroom on core clocks, not to mention since they've shrunk the die-size they could fit more cores.
then they could've started with a real overhaul with the GT? 7## series, if they went this path they could've got the "first to reach the 28nm fab" plus could've got the time to take a price hike and later on bring it down when competition rises. and ultimately have the time to develop the GT? 7## series.
as of now i see AMD as a better pick since now they have the overall performance edge, unless you're craving for Physx, and the only chance nvidia would take the top-dog crown now would be to fine tune their drivers though AMD still have theirs being fine tuned as well. also if they could get their lower tier cards to perform well then it shouldn't hurt them too much.
also, if AMD can think fast, and if its possible, they could effectively drop the prices of HD7970 and HD7950 by 50$ more or less, that'll hurt nvidia a lot.
to explain how it'll hurt nvidia a lot, it is because nvidia just released their card out, if AMD can give pressure then nvidia's profit from this would severely be crippled, and since AMD had a headstart of about 3months and profited from it then it wouldn't hurt AMD much with this move.