You Mac-haters are really funny. Have you missed that iMac is a monitor PLUS a computer in the monitor case?
Look at your PC tower. And now look at your monitor. Now try to figure out how you can put your PC's power supply, motherboard, heatsink, fans, hard drive, DVD drive - in your monitor case, leaving the monitor insides there too. The fact that Apple have managed to squeeze i7 quad core and ATI 4850 and the required power supply there is just amazing.
I bought my first Mac just a year ago, because I've decided to program an iPhone app (I'm a programmer). Before that I was a PC user for 15 years. Now I use PCs and Macs. I appreciate flexibility of PCs, and I appreciate engineering talent of Apple. By the way, my Macs have slower CPUs than my PCs, but they feel as fast as my PCs or even faster, because (1) Mac OS X is not bloated as Windows and (2) Mac OS X uses GPU differently from Windows (it keeps all GUI in the GPU memory - Windows keeps it in the main memory and transfers to the GPU all the time).