There is a lot of speculative pricing running around the Internet at the moment. I would not trust any of it.
The price will all depend on how much NVidia is willing to give away. NVidia got caught flat-footed by ATI's move to modular chips, which reduced the costs significantly for ATI/AMD.
NVidia is faced with manufacturing the largest die ever done for a video card during a time when yeilds at the 40nm production are not good (TSMC claims they are getting a handle on it though). The larger the die, the worse the yeilds are to begin with. The larger the die, the higher the costs are as you only get so many chips from one wafer. The wafer costs are pretty much fixed, so you always want to get as many chips from one wafer as you can. These are facts, which cannot be ignored nor marketed away. It is going to cost more for Fermi than anything ATI will produce in the foreseeable future.
NVidia is faced with two basic choices. 1) Price themselves much higher than ATI/AMD and hope like heck the performance is that much better (not looking all that hot at the moment) or 2) Try to stay price competitive and give up making any money on Fermi (hang on to marketshare) and get the next generation design done as soon as possible (basically a 5000 series oops, as that is exactly what happened there).
ATI has made a couple of very good decisions which puts them in a position to simply blow NVidia away. If NVidia tries to compete on price, ATI can ruin their day very quickly as it is costing ATI/AMD much less to produce thier cards than it is costing NVidia, at the moment.
On the other hand, if NVidia holds thier prices high, ATI can simply ride the higher net profit curve and be in a better position to turn designs around faster while still making money.
If ATI plays its cards right, this could be a banner year for them and a really bad one for NVidia. Fermi is either going to be the boat anchor NVidia will be sorry they ever started, or it is going to be something they can ride out until the next generation. Being caught with thier shorts around thier ankles, by ATI, has never set well with NVidia.