I haven't seen any complaints about yellow screens in the 21.5", and even for the 27" it is sporadic (my 27" was second week of manufacture and has no problems).
The 21.5" has a faster processor, more standard memory (and less expensive memory upgrades because it has 4 slots instead of 2), a bigger standard hard drive, and probably but not necessarily better graphics (I don't know that for sure). But it is questionable whether any of these are worth the upgrade cost and hassle. I only upgrade if there is a clear advantage, otherwise I wait.