This discussion is really funny.
A. The iMac 27" doesn't use "laptop CPUs". It uses full-fledged desktop Core i5/7s. The only part inside a Mac that is mobile right now, is the graphics card, which is the 4850. Even then, the 4850 mobility performs about the same as a Radeon 4830, which is slightly faster than an overclocked nVidia 9800 GT.
What this means, is that for most tasks, the iMac is as fast as any system you're going to put together, save gaming. For those individuals that argue that the system "sucks" for gaming, you're wrong. It doesn't "suck" for gaming at all. It's a midrange game-enthusiast machine. It is not, a home-built or gamer-marketed hotrod or godbox rig. However, the 4830/9800 GT can still run any game, save for crysis, at max settings, 4AA, 1280x720 at over 50 fps. While this may be "lulz lollercopter u mad" to some very immature posters, for me, that's pretty much more than enough.
It's also superior quality to any console on the market today. In fact, if you knock the settings down to "High" instead of max or highest and remove the AA, you can game at 1900x1080, with good framerates.
The 4830 is not a gaming card but you can game with it and do so at a respectible and attractive quality. While it would be nice to have a 5970 in there, it's unrealistic to wish that because the thermal envelope would cook the entire system. One of the benefits of the iMac 27" is that it is a large, but thin, sleek, and simple system. Unboxing it, there are no mouse/keyboard cables. There is only one power cable(not two or three like most other systems). There is no VGA or graphics cable to a tower. It's just a large 2" think panel, a power cable, and a line to your router, modem or switch. That's it.
It's a remarkably attractive layout.
B. People don't seem to understand that of the 2100 price you pay, when you purchase a Core i7 iMac 27", half the price is really getting shunted directly to the monitor. The LG monitor in the iMac is a 27" 2560x1440, LED backlit IPS monitor. Despite its fantastic resolution, ridiculous color reproduction and great light emission ratio, it's also got a respectable refresh 5-6ms as well. It's simply a professional-grade monitor. When you compare the monitor of that nature to a 300 dollar el-Cheapo 24" TN LCD special, you come off as those nubs that post in forums comparing...well...comparing a 4830 to a 5970.
Yes, the difference is that huge.
One is a professional grade monitor with over 15-20% resolution and over 50% better color reproduction at a 25% better realestate quantity. There's simply no comparison.
So while many of you may think that a 1000 dollar LED backlit IPS monitor is a "waste" of money, to most graphic designers that may want to game at 1680x720, it's actually a pretty good deal. What you're left with, is a system, running a multi-partition capable install setup of Snow Leopard and any Windows flavor, with a Core i7, built in wireless, 4 GB of DDR 3 RAM, a 1 TB Toshiba drive, 4850 mobility, Seasonic(Corsair) 350-400 Watt PSU, and the magic mouse(which is insanely badass) for about 1100. Yes, you can probably build a system for less, but not for much less, especially when you factor in that the iMac is in a unibody stainless steel framed/aluminum case enclosure(good luck finding that at Newegg).
It comes assembled, ready to go, with no per-part RMA shennanigans and no 2-4 hours of installing updating your OS.
I've built gaming rigs in the past. It's great fun and for hardcore gamers, that's really the only way to go. But for a casual gamer that wants good visual fidelity but doesn't doesn't need to game at 1900x1200 AA 8x at 120 fps, the iMac does a really great job while still also allowing itself to double as a media computer(photos look fantastic on this system), a solid movie platform and an unbeatable setup for DTP and web design.(No self-respecting graphic designer refuses to use TN screens. Color reproduction is too sketchy).
The entire "OMG lulz, failsauce gpu!" comments at the Mac just showcase people that don't understand the difference that "Lamborhini vs F-350" isn't a simple, cut and dried answer. People need different things. And anyone that thinks so, obviously doesn't know much about computers.
Madan.