I swapped HDDs exactly as Tom Sawyer described. The total time for me was about an hour, because I was being super careful and I thought the whole thing was moderately challenging. Tom's instructions are right on. The Torx bits you need are T8 for most of the screws and a T6 for the two tiny screws holding the DVI connector. I think those bits are unusual choices, perhaps intentionally so. Usually a Torx bit set includes a T10 and sometimes a T5. I think Apple is definitely trying to keep people out of these computers.
The label on the display shows that it is a LG Phillips, made in Korea. I have a photo if anyone wants to see it or post it.
The Raptor looks quite nice in its new seating. I had to use a little adhesive (a drop of superglue) to stick the thermistor mounting bracket on it.
As I said, the total time for me was 1 hour. The suction cups and compressed air are both musts. I used two suction cups, one on each corner, and that was really easy. You could make do with one, but since I had to go out and buy them, I bought a package of two.
When I put the casing back on, I didn't do it quite right and didn't know until I couldn't get the memory bay cover back in place, so I re-did that step. Like with the old G5 iMac, the casing has to be slid into place a certain way to achieve a perfect fit.
This was quite the adventure, disassembling my wife's brand new computer. Personally, I prefer the inside of the old G5 iMac, which was a real breeze to open up (only TWO screws, and they were the kind that stayed in place). I am a little concerned about Apple switching to such a narrow form factor, since conceivably the market and pride won't really let them go back to a thicker model. With less available space, they might be restricted to cooler components, which might make the iMac less competitive in the desktop market. IMHO, a new iMac should always outperform any brand-new laptop out there.
If I were designing the iMac, I would have considered keeping the same internal design as the G5s (thicker, but so what, did that actually bother anyone?), using a quad-core CPU and a higher-end graphics card and using the extra space from having a 24" monitor to include two drive bays for a RAID array. But that's just me.