470 is a lower clocked GTX 560ti 448 Cores, by default it's faster than the 560ti.
Isn't the GTX 560 slighter faster then the 470? although it has a smaller memory bus it makes up for that with its higher memory frequency.
But I do agree a GTX 470 for $120 as long as you're not concerned about power usage is a pretty good deal. I looked around on newegg and the cheapest 560 was $170