As far as I can gather from the limited info and pictures of the new iMac, it seems to have received a rather substantial upgrade in the form of vastly simplified internals. One of my first thought when watching the keynote wasn't that it made the old iMac look fat but rather that it made the old iMac look cluttered. I think this is a big step towards what all computers will eventually be, an AIO SOC. I imagine the new fusion drive has given old mechanical spinning hard discs a new lease on life, but they will surely become obsolete, they seem to have hit some kind of wall around 3-4TB and may even be made obsolete for the consumer as cloud storage prices continue their drop. And someone can probably make a graph showing SSD vs HDD prices over time. All in all, I think is making huge savings on the new iMac compared to the old one, except of course for the lamination which must be costly until they can get the problems sorted. I'll be happy to take on of the first from the production line to test if there are any problems with it.