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Where are you getting the 4.8 GB/s value from?
I am guessing you somehow mistook the 4.8Ghz effective data rate for the GDDR5 as how fast the card can transfer data across the PCIe bus??
In any case, defiantly get the 5770.
There will be NO decrease in performance running it on a 16x PCIe 1.x slot.
There is still more than enough bandwidth available to run any current GPU on PCIe 1.x.