I am planning to get myself an i5 (my first Mac!) and was watching this thread for a while. One of main new things on the new iMac is the LED back light. The hardware (power supply) is substantially different from the previous models. It looks to me like some kind of the LED power supply shutdown and restart (thermal overload???). This could explain difficulties to reproduce this problem.
This is a pure speculation on my side of course, and Apple is not talking much about this issue (I hope they work on it as we speak), but the poll on one of the other thread is not good (44 reported problems, 59 no problems), this is more than 40% failure rate!