No, the GTX 295 is better, but it's just a sandwich board like the 4870X2 was. They didn't actually make a better card.
It's also $750.
Where are you getting this price from? Last I heard it was estimated to be around $550.
Also, even though the 4870x2 is the most powerful current card, the GTX 280 is still a better buy because it's performance is very close to that of the 4870x2 but can easily cost $50-$150 less (depending on time of purchase).