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I wouldn't even make the Geforce 700 series an option at this point, it's getting old.

Anandtech is placing the Geforce 970's performance above the Radeon RX 480 4Gb and 8Gb cards.
So it's a no-brainer from a performance perspective... That is, if you care about Direct X 12 performance, AMD has the edge there... And if you intend to retain your card for many many years, I would go the AMD on that fact alone.

The 970 will also use more power though, anywhere from 20~ watts in games to 70~ watts in a "power virus" like FurMark. (Goes to show how good nVidia made the 900 series, even at 28nm.)

Depending on where the Geforce 1060 drops in the performance charts though, we may see AMD cut the price on the RX 480, might be worth waiting untill then unless you need the GPU sooner rather than later?

So, the 970 OC will perform better than the 480 but consume more power?

There's no rush at all for me, my new PC hasn't even arrived yet. I'd rather get a newer card because obviously it'll stay relevant for longer but if an older card outperforms it then surely that'll stay relevant too?

I'll only be using it at 1080p and and willing to downgrade settings to get it to around 60 fps too.