Having unpacked and switched on my new 27" i5 (there's no setup to do really, which is great!) and started using it I didn't notice any of the symptoms of yellowness, grumbling hard drives, dead pixels, anything - it all looked perfect. It was only when I remembered about the yellow tinge thing that I came here to run the test, and sure enough there did appear to be a slight warmness towards the bottom 1/4 of the screen and another towards the right 1/5 of the screen, but so far it has only been noticeable when I specifically look for it by running the grey bar test.
After a while I also noticed a hard drive noise, though very quiet there was definitely a seek noise going on. At first I thought it was my ReadyNAS which makes a similar noise, it has two 1TB hard drives in, but I checked the access light on the ReadyNAS and it was definitely the iMac.
There are no dead pixels, I'm thankful to say.
So, what am I going to do about it? I'll tell you what - nothing. I think most of these complaints are from people who are just perfectionists who are rarely pleased with anything; while I admit that the yellow tinge is not desirable, it won't impede on my use of the iMac for the things I want to do and I don't want to start getting into a cycle of returning the iMac time and again for the sake of perfectionism. I am not a professional photographer or graphic designer, and frankly if I was and I needed a good display I would not buy an all-in-one computer, I would buy a proper fully calibrated display which probably costs as much as the base 21.5" iMac, and a Mac Pro to run it on. It's kind of like someone expecting a pro scan result from an all-in-one scanner copier printer, it just doesn't happen; I have an Epson Perfection V500 Photo scanner and it is far superior to the HP C4180 for scanning, cost about three times as much and it shows, the same can be said for the display you buy for your computer (even though Apple may market it as a Pro display - since when did marketing guys tell the whole truth??)
As for the grumbling hard drive, my two 1TB Seagates grumble in my ReadyNAS, in my experience this is normal for hard drives of this size, I am astonished that people are actually sending their iMacs back with this as the fault. I imagine it may well be possible to buy a quieter 1TB hard drive but I trust Seagate and am happy to have one in my iMac, I've seen far too many Western Digital hard drives die prematurely, where as Seagates of the same age just keep on going. Incidentally the hard drive in my iMac is a ST31000528ASQ, it makes a reassuring chugging sound when seeking. If I were to replace the hard drive for a quieter one I would probably get a Samsung Spinpoint.
After all this I am still glad that I was aware of the problems people have experienced with this iMac, but a part of me wishes I didn't know as I really wouldn't have noticed these things or given them much thought if I hadn't come across these forum posts. Still, better to be in the know for when there really is a problem worth shouting about eh?
To all those average users who are holding off buying an iMac because of these niggles - don't! It's a great machine. I held off buying mainly because of the shiny screen (as luck would have it I won one in a prize draw, but even if I had purchased it with my own money I would rather use it than spend weeks or months sending it back to Apple) but in use it's really not as bad as I thought it would be - true, I would still prefer it to be matte and non-reflective, so let's hope the next iMac has that option.