Sorry, but I don't believe you know what you are talking about.
The GTX680 and HD7970 GHz card are back and forth depending on the game. Here's Crysis 2 for example:
http://www.hardwarecanucks.com/forum/hardware-canucks-reviews/55064-asus-gtx-680-directcu-ii-top-review-6.html
The Asus GTX680 TOP is getting almost 84FPS average compared to a stock HD7970 which gets almost 70FPS and the HD7970 GHz card which gets 74FPS.
Their are some games that favour the HD7970 GHz card.
If you're going to make claims then back them up. Benchmarks don't lie. Also, there are NVidia specific features like:
- PhysX
- TXAA (upcoming Unreal 4 engine default AA method)
- Adaptive VSYNC
Ridiculous Cooler? Sure it's big, but the larger heatsink helps keep it quieter than any other card at this performance level. It mounts in my case solidly, I don't need the extra card slot it hides so where's the downside?
Not to start a war or anything, but I don't see how you can claim this is a waste of money. FYI, your statement about the memory bandwidth is completely wrong. There's some truth with the GTX660/660Ti but not the GTX670 and 680.
Overclocking the HD7970:
There was a little truth to that, but not necessarily enough to trounce the GTX680 on a regular basis. Also the heat went up significantly causing much more fan noise. You also need to be careful and have quality power components and good cooling to do this properly which adds to the price. There's a reason OC versions cost more.
I challenge you to show me an HD7970 that is:
a) cheaper than a GTX680, and
b) can beat a GTX680 in most benchmarks, and
c) also match the LOAD NOISE level of a GTX680
(and again, there's the NVIDIA specific features. FYI, Adaptive VSYNC is pretty useful, maybe AMD will add it to their drivers at some point... )