I am no expert, but I am curious if anyone with screen tearing has checked their monitor resolution(in windows, not CCC) by right clicking on the desktop, choosing screen resolution, then advanced, then monitor. For some reason mine automatically set to 24 Hz after I installed my 7970, which caused tearing. After I changed it back to 60 Hz my issue was solved. My problem might be unique, but I thought I would mention it, just in case.
Also, my Adobe Flash somehow defaulted to hardware acceleration disabled, which caused issues with streaming HD video. Re-enabling fixed it.
I have been in constant communication with AMD's driver team. I must say they seem to be working hard, but having a lot of trouble coming up with solutions. I told them they should get on these boards and see how bad it is out here.
I hope everyone finds fixes for their problems. IMHO, 400-600 USD should buy near perfect performance without waiting six months.