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Tom's Hardware will soon have (yet another) article on the subject. Back in the day it was lucrative, but this comment from latest nVidia 770 review maybe explains current situation well:

"I can tell you a story about how a pair of 7970s at 1070 MHz mining 24/7 only make 0.03 BTC/day and dwindling.... so yeah... the GPU gold rush is over. 7970s will no longer pay for themselves in any appreciable way with BTC mining."