Here's what I don't understand: If a model is going end-of-line, why are shipment times longer? Either they have them in stock or they don't. If not, the wait is forever; if they do, the wait should be no different than anything else. Are they trying to locate hidden supplies or something ("Hey, Larry, I found a whole bunch more of dem iMacs in this broom closet!")?
A long wait to me suggests either a lot of backorders or delayed supplies. Either relates to supply problems out of continuing production.
The only other reason is that the model will be replaced, and they will offer all purchasers the opportunity to order the newer version at the new price, and are simply taking orders on the new version now without telling anyone.
As for whether to buy one: I'm waiting to see the revisions. As things stand now, the low-end powermac is basically an iMac with a different form factor that can be built to order and have stuff added to it later. I'm guessing the specs on the top-end iMac will be similar, although probably with a superdrive. So the question will be: how much more for the powermac+superdrive+17" monitor vs. top-end iMac.