The latest rumor out of Computex is that AMD's 4800 series won't be launching until June 23^rd, which is five days later than originally planned. If true, AMD would be able to launch the 4850 & 4870 at the same time, and avoid being too close to nVidia's planned GT200 launch on the 17^th.

The guys at Hexus saw one of Gigabyte's 4850's in action, & have posted some photos for your drooling. AMD's apparently not allowing partners to change the reference design at launch, so what you see will be what you get from everyone; minus a few minor details.