anantechs take on 970gate.
to be honest I think it seems fairly a balanced summation..... (it is the same way the GTX660 and 660ti worked)
http://www.anandtech.com/show/8935/geforce-gtx-970-correcting-the-specs-exploring-memory-allocation
Anandtech
In the end while I am disappointed that these details haven’t come out until now, I am satisfied that we now finally have enough information in hand to truly understand what’s going on with the GTX 970 and what its strengths and weaknesses are as a result of memory segmentation. Meanwhile for real world performance, right now this is an ongoing test with the GTX 970. As the highest-profile card to use memory segmentation it’s the first time NVIDIA has been under the microscope like this, but it’s far from the first time they’ve used this technology. But so far with this new information we have been unable to break the GTX 970, which means NVIDIA is likely on the right track and the GTX 970 should still be considered as great a card now as it was at launch. In which case what has ultimately changed today is not the GTX 970, but rather our perception of it
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FWIW I do hope NV offer all 970 users something as a bit of an apology. The black and white of it is they missold the specs of their card. Would a freebie game suffice? I dunno really, but I dont imagine a full refund will be offered, tho that is what some people are expecting... Either way, people experiences crashes etc should be sending their cards back as faulty, the issue with using the last 500mb of ram is a drop in performance, it should not be graphical artefacts and crashes, and that would indicate a fault not a "hidden" design compromise.
(and it is only when going over 3.5gb, not 3gb)