It seems AMD will be going with a bit lower frequencies than previous stories have been speaking off. They will still be higher than with the RV670, but not in the gigahertz range. It's normal for a company to set the initial frequencies high, try to achieve them, but fail and lower them before the final design. Since this is a "new" architecture one shouldn't make too much out of this either. Back in February, figures said that final RV770 would be <50% faster than RV670. Right now, the reference design is somewhere in the range of 40% faster. We're three months from the first unveilment, but the figure is looking quite solid.
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AMD lowers RV770 reference frequencies
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