Given EVGA's sky-high factory overclock, we were expecting to be close to the ceiling as is. Apparently not, as there is a reasonable amount of further headroom for those willing to tinker. With no overvolting, we were easily able to push core frequency up to 1,315MHz base and 1,466MHz boost using the latest version of EVGA's PrecisionX utility. Memory quickly ramped to an effective 7,660MHz, though going any further on either front resulted in instability.
At these near-the-limit speeds, GTX 970 FTW is able to usurp a stock-clocked GTX 980.
This is what overclocking is all about, is it not? Why pay the premium for a GTX 980 when you can pick up a GTX 970 that, with a bit of tinkering, can be made to deliver a similar level of performance?