Technically, yes. But unfortunately, the GTX 590 is a dual-GPU card with the two GPUs linked together internally via SLI. Premiere Pro still does not support more than one single GPU for MPE GPU acceleration. Therefore, half of the GTX 590 (or one of the GPUs) goes completely unused (read: wasted). Because of this, it would actually be slower than the GTX 580 in performance in Premiere Pro even in CS6.
I'm considering a gtx680, but I currently have a gtx590. However I am not able to get it to work. How can I get it to work even with one gpu?
I do not know how this person accomplished it but if you look at our PPBM5 benchmark results in position #10 (today at least) you will see a successful GTX 590 user. Therefore it can be done and maybe someone on the forum can help you configure your GTX 590 and avoid buying that GTX 680. There will not be a lot of difference in performance between these two.
I recently ran a test of a AVCHD clip which had all sorts of MPE accelerated effects and features exported to MPEG2-DVD. This timeline took about 700 seconds to export with the CPU only. When the GPU was enabled with a GTX 580 (half of your GTX 590 and what you might get) it took only 35.7 seconds. When I then used my GTX 680 the time to encode this timeline was 34.5 seconds, an improvement of only 1.2 seconds--hardly worth paying for a newer board! .