Every manufacturer knows about defects. The big thing is if you choose to be prepared for those defects or just wing it and see what happens, thats the game Nvidia has been playing ever since thier monolithic designs.
This page is a perfect description of defects on a manufacturing process for computers, be it cpu, gpu, or memory.
http://www.anandtech.com/video/showdoc.aspx?i=3740&p=8 It is also a very good article.
Nvidia has been able in the past to dodge the bullets that are involved in a monolithic design, defects. Now with TSMC not being the best at 40nm, its killing them in the worst possible way. Picture this. Right now Nvidia's top chips are about as scarce as the chips AMD is cherry picking for the 5970's, maybe less. This means if Nvidia went forward with the release, they will be higher priced and harder to find than the 5890's.
Lets examine the sorting for a second. ATI makes the 5800s on the same die, same wafer, and bins them. First you apply low voltage to the chips, see wich ones pass and can be used on the 5970 (very low yield). You then up the voltage, and picks the chips suitable for the 5870s (little higher yield). Do this X times ... AKA binning, you get the variations in products from the exact same die, and exact same wafer.
Fabrication processes also applies to cpus as well. Intel has thier 32nm chips going, but what was thier first one? A Tiny dual core chip, rather than trying to make thier monolithic 6 core chip, and they also left the graphics and memory controller off of it (its on the other chip). Improve the process then increase the size. Nvidia has a huge problem on thier hands. ATI and Intel learned from their past mistakes, what will Nvidia learn? More importantly how long will it take Nvidia to have a product to sell?
(hmm sounds like the same boat AMD is in with thier CPU's)