How do you figure a S-IPS panel in the 24" iMac isn't capable of accurate color? It's the same panel as the ACD, and don't give me that BS that the glass in front of the panel on the new iMac makes that big of a difference because it doesn't.
The glossy screen is there for a reason: It makes the colors look more saturated and contrasty. If it did not have this effect I doubt Apple would have used this screens.
There are several "levels" of color correction The simplest to to just looked at your (calibrated) screen and move some sliders around until everything looks OK you your eye. This is what most users do. If you screen "pops" colors then you will be making slightly flat files that will make for dull looking prints.
The other correction method is precises and does not depend on your eye and can be done even on a black and white monitor. Studio photographers sometimes work this way. Before you take the "real" shot you take one with a Mcbeth color chart in the scene. Later when it comes time for color correct you know the RBG values for every square in the chart. You are working with numbers and a spread sheet not, just eyeballing it. I've used a crude version of this technique where I place a Kodak 18% Gray Card in the scene. I can get the white balance and exposure spot on if I
know there is an exact 18% gray in the frame and it is lit by the main light.
In summary, I think the glossy screen can work well enough. If you have very precises requirements you will not depend on just looking at the screen. You will measure the color so even a very poor screen would be good enough. If you were using the eyeball the screen while moving a slider method then I think with practice you could learn to compensate for the extra "pop" of the glossy screen.
I plan to answer this once and for all. I plan to go to the local Apple store where we will hook up a 24" iMac and a 23" ACD. We will calibrate both screens and then drag an image across the tow screens. The Apple sales guy was willing to set this up if I'd make an appointment. What I suggest is that anyone here who really cares make an appointment with your local store.
But even after a direct A/B compare we can argue like the typical audiophile about how speaker wire that is braided sounds different than wire with twisted strands.
