There 'could be a radiation problem' is pure speculation since there are no solid references to what the real issue is. If there even is one other then that the manufacturing process is a bit slower then people wish for.
Considering how they have 150,000 pre-orders and they are putting out between 5 and 10,000 this month. I hope that they are able to increase output so that they get the demand filled soon. I checked Apple's store earlier today and they are shipping new iMac orders in 5-7 weeks...
Also consider that there have to be bugs getting worked out on the production line. Remember the first iMac's that were produced?? I wonder how the demand for the new ones compares to those.. Combine that with LCD screens becoming harder to get (or will in the near future). I would be willing to bet that is the major hold up on getting iMac's out... they have to wait for the screens to arrive before they can send the systems out the door (after final assembly). They probably have tons of components just waiting for the screens to be finished.
Maybe they will open another plant to pump out the new iMac's, or start making the actual LCD screen themselves.