this is only the very first generation of imac with i5 and i7 cores
meaning that we are paying the processor at its most expensive price (launch price negociated by apple of course)
but still
is it really worth spending a premium of $300
my opinion is no
unless you are a video professional and use the imac at its max capacity all the time, most of us won't see the difference between i5 and i7
more importantly, the HT is active only 1 core on the i7
and finally, only optimized applications will be able to use efficiently its characteristics
at the end, the i5 is the most cost efficient processor
save money to add more RAM if you want
and i suspect the i7 to need more juice, so to produce much more heat than the i5
heat = fan noise...