The real problem with NVIDIAs offerings, as we all know, and not to be the master of the obvious here, is that they are critically expensive cards for the small improvement increase they provide. What ATI did with the 5xxx series is well defined and great for the price. There are no games you are going to buy anymore that require the nearly one thousand dollar investment that a good NVIDIA card, which beats out ATI somehow, requires.
It seems that NVIDIA is hell-bent on defeating ATI and once again reclaiming the throne of video card king. But if the software industry is any indication, they will need a major, revolutionary card, that beats ATI in pricing. The problem also arises when you start to realize that most studios are now developing games and graphic applications and testing said software primarily on ATI hardware, and not NVIDIA brand stuff. Of course some testing will be done to ensure compatibility, but not maximum performance. As long as ATI maintains an edge, you won't see this change. And they definitely have an edge.
Why would kemical pay so much quid to buy a NVIDIA card when he could go the ATI route and be able to play pretty much any graphic intensive game with a low framerate? Well, the reality is, there really is no reason, unless he was producing a movie and editing CG models for a multi-million dollar production!
We are in a recession, so no one really wants to pay over $500 for a video card. Even if NVIDIA comes out with a solid and cheap competitor that works great, they are going to have to move mountains, with a whole line of cards that do the same thing, before they can "reclaim the throne" so to speak.