my two cents....
i'd forget about any future upgrade of the GPU... the CPU instead seems pretty clear it can be upgraded in the future with little effort... notice the socket lever by the CPU on the ifixit.com imac screenshots. also that "warranty void if removed" sticky on one of the cooler screws is quite suspicious
GPU however seems to have been left on its own as if apple took for granted it will be too tricky to replace if that is possible at all...
on the other hand, i can't find any trusted place (official or not) where it explicitly tells that 4850 is the mobile edition, not in the apple web page not anywhere else...so i am still hoping it will be the desktop ed.
also for what refers to gaming, note the 27" resolution is exactly x2 the 720p ...that means that running games in 720p res (1280x720) will scale neatly to half the display resolution and should look as if they where being ran at native resolution ... that's great imo, as something i particularly hate about playing games on an lcd in a non-native resolution is that scaling screws a bit the visuals and is particularly annoying to me ...
http://s1.guide-images.ifixit.com/igi/ktLKDUFPyGmyPPQJ