I do expect the 6970m to outperform the 7600m because 7600m is just a revamped 6770m.
If we look at AMD site we can see the specs of both 7600m & 6900m:
6900m:
TeraScale 2 Unified Processing Architecture
960 Stream Processing Units
48 Texture Units
128 Z/Stencil ROP Units
32 Color ROP Units
7600m:
TeraScale 2 Unified Processing Architecture
480 Stream Processing Units
24 Texture Units
32 Z/Stencil ROP Units
8 Color ROP Units
Look also at a site like notebookcheck.net which lists all mobile graphics cards:
http://www.notebookcheck.net/Mobile-Graphics-Cards-Benchmark-List.844.0.html
6970 is number 26 in the list while 7690 is number 70 in the list.
7000M series doesn't have any technology change over the 6000M series, they are in fact still using the same 40nm process while in the desktop line they have moved to the 28nm process.
The thing about the chassis redesign... that's something that could be possible with a design refresh. 6970M has a TDP of 100W while the desktop 7850 (which is faaaster) has a TDP of 130W. Only 30% more power... considering the shrink in technology of ivy bridge and the possibility of the removal of the ODD and even the standard use of SDDs... It is very possible.