This is good news as I plan to build a new system in the nearish future, and a GTX 460 or GTX 470 would a be nice upgrade to the GTX 260 I have.
So yeah, with an i7 950, a GTX 460 - 70 and 12gb of DDR3 I'll be able to kick some butt when messing around with audio/video creation/conversion.
If true, these aren't random price cuts. AMD is expected to release its Radeon HD 6870 and 6850 videocards tomorrow, and a well timed price cut could steal some of the thunder away from AMD's launch.
It's always the way, one or the other trying to steal the other's thunder, which is great from a consumer's standpoint... we all benefit.