Are we kind of being set up again by Apple giving us outdated or low performance cards in a very expensive computer?
Apple isn't guiltless but it is also timing/efforts of the GPU vendors also. If released in Q1 2013 this (with E5 v1 and TB v1 ) wouldn't have been good. It wasn't ready. So Apple is out of the release synchronization with the GPU vendors with the Mac Pro. Not really a new problem.
When the NMP was announced there was allot of talk about how powerful and awesome the graphics cards where going to be...
If price insensitive it still is powerful. Whether $/performance is there is debatable but just top end performance it isn't that bad ( if not looking at it AMD fanboy vs Nvidia fanboy perspective). With the "sneak peak" Apple only laid down details on the extreme top end ( what they call D700 cards now). They are more powerful than most other graphics cards out there.
Reason i ask is that even with the previous MP the graphic card options especially in the base configuration where outdated and cheap in comparission with the cost of the machine....is history repeating itself with the new macpro?
It is not so much history as the customers repeating the same issues. Far more about "price points" than outdated/cheap .