No way is that as easy as it sounds, if you want a vanilla install it's not worth the effort.
I couldn't install vanilla snow leopard cos I have a PS/2 mouse, bought a USB mouse and still couldn't install. Turns out it won't install with a 4870. Not to mention installing it more than likely will mess up your BIOS (reset it)- happened to me.
You can get pre hacked versions but even if you do get it all up and running you have to be careful updates don't screw anything hardware related up, and you need to mess about with kexts etc it's nowhere near as stable as an official Mac and not worth the time imo. The whole point of Mac is stability.
Like I said they are great for set and forget if you're not a gamer, if I bought another 360 or PS3 I'd probably use Ubuntu or Mac (if I had one) as my main OS, but the only thing that would concern me is the upgrades- you pay more for a Mac than a PC you could build yourself (which would be a lot faster as well) and you can still upgrade the PC, easily and cheaply.
If you have money to burn or don't want to upgrade for a long long time then I'd say go for the Mac, if not then just go for a PC with Windows that can do everything a Mac does and more, much more options for programs etc.
I personally can't stand OS X GUI, the built in programs, the whole layout of it but some people do really like it. If I was you I'd have a proper think about it rather than splashing out one and maybe being disappointed.
Windows 7 has worked fine for all my needs, it hasn't ever crashed once and it's running as fast as day 1, Mac doesn't even support TRIM for SSD's, I'm not even sure if you can get SSD for that iMac (or does it come with one? idk). If not then that will be a big bottleneck for the future.
I fix computers all day long at work, I'm sick of coming home to find something isn't working, or new drivers are out, or blah blah bluescreen, so and so has stopped working.
I just want something that works without the need to upgrade it or piss around with.
I've tried installing OSX on various PCs. What a ballache.
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