C'mon people, Apple's been focused on the iPhone and iPod updates, and read that iMac was due for an update next month. I think that there is an overreaction when Apple doesn't update as fast as we'd like.
Think about the computer market: you have Apple making Apple, then you have 80 other companies making Wintel boxes. Of course you're going to see new processors and configurations rolled out faster, there's 80 different guys trying to keep up with each. What should be more important is that when you pay the extra money for the Apple computer that it lasts longer and works better than one from the other 80 guys.
I have an Mac Pro 3,1 for which I paid $2200, and which does everything that I want it to do without any issues, and even with it having a shortened OS life now, it will continue to work for a few mores year without problem. I am on my third wintel box in the same time and while the cost wasn't as high, the frustration with the wintel boxes probably took months off my life.
Perspective folks. New iMacs will come and they will be good.