That's AMD's high end lineup completely wiped out with a single card.
Better than 290x performance for $330 while consuming around ~150w less. I couldn't even recommend a R9 290 @ $250, AMD really have no where to go.
It's honestly worrying how far ahead Nvidia are now. Seeing even the cut down version of Nvidia's midrange 256 bit card beat out AMD's cream of the crop 512 bit monster is an embarrassing state of affairs.
If Nvidia really went all out they could realistically offer a card with almost twice the performance of the 290x with a similar power and silicon budget. I can't remember a time when the gap was that large.
Well it's a new architecture and new gen of cards... it is supposed to make the last ones obsolete (just like the 7970 made the 580 obsolete in the 6 months before nvidia had kepler ready).
Nvidia doing it on the same 28nm process is impressive though.
When (if at all) amd have any kind of answer to these new cards is the question though... they better hurry the fuck up and not go all amd bulldozer with their gpus :\
Noob question: Why is less power consumption so exciting?
It's not just power consumption , they have better performance on a smaller die with a smaller memory bus than kepler (and especially amd GCN).
This means there is the possibility of a way bigger and way faster gpu that still consumes a reasonable amount of power.
Lower power consumption is also nice for everyone from low end to midrange to high end gpu users (at the right price) as it means less heat, less noise, less power bills (100watts less power consumption over 3-4 years of use will save you some extra money which is always welcome)
Under equal circumstances (price , performance) the gpu with a lot lower power consumption is always more appealing.
Here in germany electricity is not super cheap. 100W less for 3hours each day would be around 30€ less a year. After 3 Years (edit: the time between new GPUs for me) it would be nearly 100€.
Nah it's not quite that much.
3 hours a day at 100 watts for 3 years is only 109kwh, 35 cents per kw/h (which is btw holy shit expensive

wow you germans have it pretty bad, here in belgium it's 22 cents) means you save 38 euros over the lifespan of the card.
It still counts though, I'd definitely count it in the purchase price of my gpu, hidden costs are no less real than upfront costs