1) It is 100% possible to return something purchased online to the Apple Retail Store, as long as it is not refurbished and not custom-built. The darndest things can cause your machine to be considered "custom-built," such as having them preinstall iWork, upgrade your RAM, or bundle a video adapter.
2) You're within the 14-day return policy, so you have every right to return the iMac. Officially, you should be charged a 10% restocking fee, but in my experience, almost any Apple Store or telephone support agent will waive this fee in your situation.
I got a custom-built PowerBook in 2003. The day I received it, I noticed a stuck blue pixel. I immediately called 800-MY-APPLE. The agent was very helpful and stated that, normally, a single stuck pixel on that screen would be "acceptable." However, because I was within the return policy, he was willing to waive the restocking fee and would even email a prepaid shipping label to send the PowerBook back. He stated that if the new computer had an "acceptable" number of stuck pixels, that I'd have to live with it. I didn't want to be without the computer for a week (shipping), so I lived with the stuck pixel for two-and-a-half yearsuntil I got my MacBook Pro. In all truth, I only noticed it when watching DVDs.
I wish you the best of luck!