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you spelt graphics wrong... but anyways:
the 4870x2 has a 750 MHz core clock compared to the 295 which has a 576Mhz core clock.
The 4870x2 has a realistic 2gb of ddr5 memory, compared to the 295 which has only 1792 MB gddr3.
the 295 has a memory speed of 1000 MHz / 2000 MHz which the 4870x2 has a memory speed of 900 MHz.
there actually VERY similar in specs.. same shader speed, same ROD.. but actually the GTX295 has ALOT higher benchmarks than any ATI GPU out there atm, in most games it out performs the ati card by far...almost double the FPS.