Hello. Software developer and former IT consultant here.
I would STRONGLY suggest you keep your Mac pro, for three reasons.
First, single core performance of Nehalem is still plenty good enough for things like GUIs, the Mach Kernel, or feeding a GPU. The "2.5x single core performance" thing is a myth. It might be true if you are doing AES encryption or using AVX2.0 over SSE4.1, but as the machine is being used for video editing/encoding (mostly GPU driven these days) and not serving up encrypted data you're looking at something between 1.5x to 2.0x single core performance for most types of computations. On top of this, video encoding/decoding algorithms are highly highly highly parallel when you NEED them to be.
Second. If they aren't highly paraellized on the CPU, that usually means that the CPU isn't being used at all, your GPU is. For example, Nvidia's 980 has a HVEC encoder on it, and some of the Radeons have OpenCL encoders for h264, and HVEC is also available. Point is, in 3 or so years, you're going to want to upgrade your GPU, you won't be able to do that on an iMac, but I honestly believe that a dual x5690 system will server you well until PCIE Gen2.0 support is discontinued.
Third. Your Mac Pro has workstation class hardware. ECC memory being the main thing. Skylake is pretty stable, but they don't make ECC for no reason. As of 2016 regular DDR4 does not grantee computational accuracy or system stability the way ECC does. Being a video editor you should accept no less than 32GB memory either. Dedicating loads of memory as a read/write buffer over your SSD is possible in OSX just as it is in FreeBSD.
One more thing....
http://eshop.macsales.com/shop/memory/Mac-Pro-Memory
DDR3 prices are currently at an all time low. Just think about what you could do with a 100gb ram drive or scratch? Nothing stopping you form using Gen2 4x PCIE m.2 SSD RAID cards either.
One last thing, really mean it this time...
In 2016 you are going to want a Pascal and/or Polaris card. On your Mac Pro (given you get the right model) you can have TWO of them, and yes there are codecs that will scale up to multiple cards, on an iMac you're probably going to be stuck with the Intel QuickSync HVEC encoder.
Anyway, I'm just currently building a x5650 based PC and in thinking "why not get a Mac case/board instead of SuperMicro?" I came across this thread. You know you can pick up CPU trays packed with RAM and dual x5690 CPUs on them for 400-500 bucks on eBay? I honestly don't know how you're gong to get 4,000$ for it when I could build one fully loaded out with dual 390x cards and everything else here for about 2,000$ (or 1,000$ using a single R9 380x) off eBay. I like AMD, and Apple is commited to them, wanted hardware HVEC encoding you'd need to get a 960 or 980 however, both options beat using the QuickSync on an iGPU though.