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Differences What are the advantages of each

Front view of Radeon HD 4850 X2

Reasons to consider the
ATi Radeon HD 4850 X2

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Higher clock speed 625 MHz vs 576 MHz Around 10% higher clock speed
Better floating-point performance 2,000 GFLOPS vs 1,192.4 GFLOPS Around 70% better floating-point performance
More shading units 1,600 vs 480 1120 more shading units
Lower TDP 250W vs 289W Around 15% lower TDP
Front view of GeForce GTX 295

Reasons to consider the
EVGA GeForce GTX 295

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Higher memory bandwidth 223.8 GB/s vs 127.4 GB/s More than 75% higher memory bandwidth
More memory 1,792 MB vs 1,024 MB 75% more memory
Higher texture rate 92.2 GTexel/s vs 50 GTexel/s Around 85% higher texture rate
Much wider memory bus 896 bit vs 512 bit 75% wider memory bus
More render output processors 56 vs 32 24 more render output processors
Higher pixel rate 32.2 GPixel/s vs 20 GPixel/s More than 60% higher pixel rate
More texture mapping units 160 vs 80 Twice as many texture mapping units

Benchmarks Real world tests of Radeon HD 4850 X2 vs GeForce GTX 295

Passmark Industry standard benchmark for overall graphics card performance

3DMark Fire Strike numbers are impressive out of the single slot card with them siting similar to what we saw just above.
GeForce GTX 295 | by Shawn-Baker (Apr, 2014)

Features Key features of the Radeon HD 4850 X2  vs GeForce GTX 295 

memory bandwidth Rate at which data can be read from or stored in onboard memory

Radeon HD 4850 X2
127.4 GB/s
GeForce GTX 295
223.8 GB/s
Once you successfully master the process of getting the card to run at matching clock speeds, you can achieve some nice performance gains; in our case about 15.
Radeon HD 4850 X2 | by techPowerUp! (Nov, 2008)

pixel rate Number of pixels a graphics card can render to the screen every second

Radeon HD 4850 X2
20 GPixel/s
GeForce GTX 295
32.2 GPixel/s
The actual 3D performance gained is 15.
Radeon HD 4850 X2 | by techPowerUp! (Nov, 2008)

texture rate Speed at which a graphics card can perform texture mapping

Radeon HD 4850 X2
50 GTexel/s
GeForce GTX 295
92.2 GTexel/s
You may combine two of these cards for even more performance in CrossFireX.
Radeon HD 4850 X2 | by techPowerUp! (Nov, 2008)

floating point performance How fast the gpu can crunch numbers

Radeon HD 4850 X2
2,000 GFLOPS
GeForce GTX 295
1,192.4 GFLOPS

shading units Subcomponents of the gpu, these run in parallel to enable fast pixel shading

Each chip includes the same shader count as an R9 290X.
GeForce GTX 295 | by Ryan-Shrout (Apr, 2014)

texture mapping units Built into each gpu, these resize and rotate bitmaps for texturing scenes

Texture Mapping Units, 128 (64 x 2) ROPs coupled with a total 8 GB GDDR5 had the card all set to deliver unprecedented levels of gaming and graphics performance.
GeForce GTX 295 | by Ramish-Zafar (Apr, 2014)

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