The "faster than a Titan" thing has been causing a bit of angst. The early reviews and benchmarks do indeed show that the 1080 Ti outperforms the Titan X (Pascal) in many cases. It's not universal; some games and benchmarks still favour the Titan by a tiny margin, but those are a minority.
But the sheer price of the Titan X (which was unprecedented in the Pascal series) has driven a lot of extra discontent this time around, especially as the 1080 Ti came out with a lower price than a lot of observers had been expecting (there were confident predictions from usually-reliable sources that it would be $200 north of where it actually landed). If you need a bit more salt in your diet, take a look at some of the threads over on the Nvidia forums today from disgruntled Titan X owners.
This is, however, pretty much par for the course in the high-end PC game and it's not as though Nvidia haven't slipped into a predictable cycle over their last few generations (at least since the 700-series) that makes clear how things work. If you want to buy a card that is "top of the range", you've basically got three options:
1) Buy the *80 card that arrives with the first wave of consumer cards in each generation. You will get a few months at the top of the tree, until the release of the (massively more expensive) Titan. This is always the cheapest of the three options, but also the most time-limited.
2) Buy the Titan that comes out a few months after the *80. This will have an absurd price tag - often twice that of the *80. It will be the fastest thing around for, in general, 6-9 months, and even then, the next card may only match it rather than beating it.
3) Buy the *80 Ti that comes out 6-9 months after the Titan. This will generally give you framerates in most games in the +/- 3% range of the Titan, but for a price much closer to the *80. This will hold its place at the top for anywhere from 9 to 15 months, until the release of the next generation of cards. In the next generation, the *80 will outperform the last generation *80 Ti and the *70 will offer broadly comparable (maybe slightly better) performance for around half the price.
I've been going for the *80 Ti route for a while now, on the grounds that the price/performance ratio tends to hold up better over time. I'm seeing complaints at the moment from people who bought a Titan within the last few weeks, which is just bizarre. The 1080 Ti has been known to be close to release since January, so why anybody would take the plunge on a Titan at $1200 under those circumstances is beyond me.
I'm working from home today and waiting for my 1080 Ti to be delivered. I wish I could say I'm not bouncing up and down in my chair going "SQUEEEEEE!!!" like a 12 year old girl at a One Direction concert, but I'm not sure how convincingly I could make that case.