However, this is an iMac we are talking about and it is beautifully styled and made as you would expect. Comparing it to a Windows computer is like comparing freshly ground coffee with economy brand instant coffee - in reality, there isn't any comparison. Aside from the slightly lacklustre processor, the marginal savings (compared to previous models) come from the modest hard drive and construction/assembly changes. For instance, the memory is soldered in rather than being socketed (which also means it is not upgradeable).
In the USA, the new model is priced at $1099, which translates to about £650 at today's exchange rate. Most US purchasers would then have to pay sales tax on top, but even so it is quite a bit cheaper than the UK and elsewhere.
Is a bargain? No. Will it sell like hotcakes? Yes. Do you want one? Oh yes, you do...