ATI 4850 is a great card. Those who are whining don't know what they are talking about. GPU is irrelevant in photo editing and only helps in pro video editing.
I've been doing some thinking and I'm really starting to lean towards the current 27" i7 iMac rather than waiting. On a daily basis I mostly use iPhoto, iTunes, mail, safari and Photoshop. I hardly ever use my Mac for gaming, but it would be nice to know if this iMac would be good for me over the next 2 to 3 years.
If the GPU wouldn't effect the apps I use everyday very much, I might be fine not waiting for the revision. What do you guys think? Am I better off waiting or will the current rev be enough?