Ripping open & maxing out 2012 21"

[Muldert]

So. I have a late 2012 21" iMac. Due to my high demands, it's just not fast enough for me. My wife wants it to be snappy when doing some browsing, some Aperture and some Photoshop, and I need it to be snappy when editing in FCPX. I notice a lot of hangtime and lagging when doing multiple things at once (RAM is 8GB)

I have the absolute base model, and I am going to open this baby up. (yes, voiding my warranty)
My plans are big, but I need someone with experience to tell me how realistic!

HDD: keep it as is, and add an SSD in the slot that was spotted during iFixit's teardown (does this plan work? What kind of connector is this? )
CPU: upgrade to max possible. (what's the max possible?)
RAM: upgrade to 16GB (or perhaps even 32, depending of the pricing.. I'm guessing 32 works, does it?)

Can anyone confirm or answer my questions? To sum up:
1. Does the SSD connector work? (again, we are talking about the base 21" LATE 2012 model)
2. What's the fastest compatible CPU?
3. Does 32GB ram work on the base model?

THANKS in advance! IF (and only IF) I'm granted answers to my questions, I PROMISE that I will publish a detailed photo log of my quest right here on these forums (and who doesn't want to see that!).

 

[SuperCachetes]

http://www.everymac.com/systems/apple/imac/specs/imac-core-i5-2.7-21-inch-aluminum-late-2012-specs.html

 

[Muldert]

http://www.everymac.com/systems/apple/imac/specs/imac-core-i5-2.7-21-inch-aluminum-late-2012-specs.html

VERY helpful link. Thank you!

 

[SuperCachetes]

VERY helpful link. Thank you!

You're welcome. Not sure it definitively answers more than one of your listed questions, but the site is a good resource.

Personally I would try and sell that iMac to someone who can use it well for something other than FCP and Photoshop, and get a new i7 quad-core model. Ripping yours open and tinkering with the components you are talking about seems like a bad idea.

 

[Muldert]

You're welcome. Not sure it definitively answers more than one of your listed questions, but the site is a good resource.

Personally I would try and sell that iMac to someone who can use it well for something other than FCP and Photoshop, and get a new i7 quad-core model. Ripping yours open and tinkering with the components you are talking about seems like a bad idea.

More people advised me that But an i7/256GB SSD/16GB ram model would set me back (after selling my current setup) at least 1200 dollars. A SSD (140$ for 256GB Samsung) plus 32GB ram (70$) plus a 3770s i7 (240$) is a bit more appealing...

 

[malvicus]

Apple would pay you $500 bucks for that iMac. Gazelle would pay $540. You could probably get up to $900 on ebay or craigslist if it still has the limited warranty. Opening that up to do your own upgrades would be a sad mistake.