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Yep, it is a great purchase. Currently the 1TB has the best price per GB. If I had your gift cards, thats what I would do.

However, if your model supports it, you should consider 1TB SSD + 1TB HDD in fusion drive
 
Fusion doesn't interest me much, my plan is to eliminate as much mechanical moving parts as possible.
Will there be a problem with the temp sensor or fan speed with removing the mechanical drive?
 
Fusion doesn't interest me much, my plan is to eliminate as much mechanical moving parts as possible.
Will there be a problem with the temp sensor or fan speed with removing the mechanical drive?
Yes, it will be full speed from my understanding (if you replace the stock HDD). I think when people upgrade their iMacs, they typically leave the stock HDD where it is, and simply plug their SSD into a new port and boot from that instead.
 
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