Thanks for the suggestion! My budget is around $1500. I really don't want to go over that and will be using an external HDD for mostly storing everything I own, movies, music, files, pictures etc. since it will always be connected to my computer.
I wanted to go with a 27" model just so maybe next year I can upgrade the RAM if I needed more instead of having a iMac thats limited to 8GB.
I was very interested in the last years model, which runs on apples site for 1399 with 2.9ghz i5 ivy bridge processor, 8gb ram, 1tb 7200 hdd, and nvidia gtx660m graphics processor with 512mb of ddr5 memory.