Currently the 480 is good because nVidia/newegg/stores drops the price to clear out its stock of these old GPUs. This is understandable action & the only way to attract buyers.
But as I mentioned, this card in spite of its very low price point given its performance is not in Tom's recommendation under Best Graphics Card for the money. As Recon-uk said, it could be a rip-off buying these newer cards given the cheap 480 option. It might as well be true but there is trade off in terms of power consumption in favor of the newer card in the long run. Even if you can afford to pay your electricity bill using 480, choosing lower power cards will definitely help save the earth & keep your electricity bill low on the side (eventually paying for the difference).
Like I said, buying the 480 in 2010 for being the most powerful single GPU car is cool for lack of better alternatives. But today, there are better choices albeit a little more expensive (for the same performance). Again, this is reasonable, there is a price to pay for being on the cutting edge of technology. We have to give nVidia & AMD its dues for continually developing & providing us better ( and more earth friendly ) means to satisfy our gaming needs.
Edit to add Link to Power Consumption that shows 480 power consumption compared to newer cards: http://www.techpowerup.com/reviews/AMD/HD_7850_HD_7870/24.html