After several weeks of thinking about this, this is my conclusion is well. I'm currently specing out a new 27 inch iMac, and not sure if I should choose the 1 TB SSD or 2 TB SSD. It isn't cheap at $1400, but I can afford the 2 TB, so I'll probably just go for it. I do a lot of photography, and what the photographers have said in this thread makes perfect sense to me.
If you can afford it, I would suggest you go for it. Nothing can compete with the speed and convenience of the internal SSD drive. I previously used MBP Retina with 256GB SSD. I actually thought about going 512GB when ordering iMac. At the end, I decided to go for 1TB. Now I feel it's the best decision I've made. I moved my previous projects to the internal drive, and it improved my productivity so much as I frequently checked back old codes across projects (27 inch screen also helps). My wife also told me that opening files in Photoshop is so much faster, because her projects are sitting in the internal drive. Now I have crossed the 512GB usage.
So I suggest to get the maximum SSD internal drive you can afford. SSD drive might be getting cheaper over time, but it has nothing to do with your iMac, unless you buy a new one.