Was in a similar dilemma, took 4850. Only make sure you buy the version without the default ATI cooling system/board layout, because they are loud and tend to get hot.
I don't know the current situation, but when i was shopping some months ago, a 4850 revision from Sapphire was released with their cooling system. I took that version over the one with the factory cooling (it was insignificantly more expensive), and i'm satisfied with the noise level/heating.
Edit: pic of the sapphire fan


.







