Hmmm, I did some more testing and there seems to be more funny stuff to be going on. Sometimes it seems SLI get's into proper gears and sometimes not. During the same game session and even the same replay, just by switching settings forth and back. But I am not sure about that yet.
Otherwise for the 2x970s I applied slight DSR in combination with 2xMSAA and dialed down 'grass quality' and 'particle effects' one notch. In addition I limited the framerate with Afterburner to 28fps and I am quite happy with that. Finally the fire, smoke and dust effects are visible. On my 2x7970s they were almost completely missing.
Here is a quick screenie: