The GTX680 is expected to be a trimmed-down version of the GTX Titan, along with the same reference cooler design and the same price tag as the GTX680.
The thing with going the BIOS route is that the card will automatically function in that fashion without your overclocking software needing to run (not to mention function properly) to have anything to do with it. Less room for errors means smoother sailing.
What I want to know is where their new GPUs (such as the GK208) will fit into things if they're simply going to be rebranding 600-series GPUs for their initial desktop line-up. Are the 700-series cards going to be another 400-500 series affair till the 800 series lands?