No, the VESA mount iMac is an either/or deal. If you need the stand, then you can't use a standard VESA adapter.
If you get the VESA model, you can't replace that with the stand that the standard iMacs have.
This article would still be relevant:
http://support.apple.com/kb/HT5619
I _think_ the back panel is different, and not just a simple swap-out to a VESA adapter.
But, you are free to choose any VESA-compatible mount with that.