Looks like each one of them has a different pcb layout.
 
3692:

 
1962:
 

 
3962 has more memory on the back of the card.

You pay 10 more and get a little more components on the PCB. It possibly helps with improved stability and slightly more upgraded components.

Well, I bought the 3962 and it was 10 bucks cheaper.

But the other poster above you says the 1962 is better.

Honestly though, are we talking small margins here, or something quite substantial?

It appears that 3962 was the launch model, now replaced by 1962. What's the logic of replacing better with worse?

I didn't say the 1962 was better. I said you pay more and possibly get better components.

Just because you paid less doesn't mean anything. The 3962 isn't listed on EVGA's site right now, so there is no telling what the original base price was. It could be on sale through Amazon, so you lucked out.

Again, I never said which part number was better. Don't go off of prices.

Looks like 3692 was the orignal and 1962 is the revised version.

himmatsj
Ok my bad man. I'm sorry. But basically, what kind of differences are we seeing here? What does it mean? How impactful is it?

Only evga can properly answer these questions. We are just normal users like yourself. 

Since someone asked this same question in a new thread, I decided to email EVGA support (Taiwan) about this, and they replied with the following:
 
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Dear Customer

Our RD feedback that they are the same specification and almost the same performance. Just different GDDR5 memory chip & combination  (1962)256M*32*4pc & (3962)128M*32*8pc) and they come with the same amount of memory.

The newer launch model should be 04G-P4-1962-KR.

Thank you
 
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Ok, so can someone please elaborate on the difference, and what it should mean?