I already ordered the 4770, for the reasons you posted
I wanted a 4850 but because of the new 5800 range, the recently imported range has very slack 4850 options (all loud internal fan etc, no more IceQ+ models etc). Asus Forumla was cheap, and reviews said it ran cool, came close to 4850 performance, and was quiet compared to other cards.
Also looked at 9800GT range as it was cheaper and still met my performance needs, but nothing caught my eye. same as our current range of 4850's here, loud internal fan cheap models. 9800 from GB with its passive setup would be awesome, but the heatsink went over the back of the card which would hit my NB cooler. So ended up with the Asus Formula 4770.