Refurbished 2011 27" iMac or New 2012 21.5" iMac?

This is a discussion on Refurbished 2011 27" iMac or New 2012 21.5" iMac? within the Apple Discussions forums, part of the Apple Forums category; I never owned an iMac before but plan to soon. I prefer not to exceed $1,500. With this said, I am looking at either a ...

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    Refurbished 2011 27" iMac or New 2012 21.5" iMac?

    I never owned an iMac before but plan to soon. I prefer not to exceed $1,500. With this said, I am looking at either a left-over 2011 27" or a new 21.5".

    My usage will be for email, web research, picture editing/storage and video creation using iMovie (family vacations and events).

    Apple's website is currently offering the following model as refurbished for $1,359...

    Refurbished iMac 27-inch 2.7GHz Quad-Core Intel Core i5
    Eligible for OS X Mountain Lion Up-to-Date Program
    Originally released May 2011
    27-inch LED-backlit glossy widescreen display
    4GB memory
    1TB hard drive
    8x SuperDrive (DVD±R DL/DVD±RW/CD-RW)
    AMD Radeon HD 6770M graphics with 512MB memory

    Built-in FaceTime HD camera

    Although the new 21.5" iMac has some appealing features, the decreased screen thickness and weight are not factors in my decision as it will be sitting on a desk. As far as screen glare, without seeing the new model yet (with the 75% screen glare reduction), it's hard to comment on it, however, the iMac will be set up in a basement home office where there are no windows.

    So my decision comes down to answering the following questions...
    - Is having a 21.5" screen size sufficient for video editing (probably no more than 5-6 fairly basic iMovie videos/year) or will I kick myself for not getting a larger screen?
    - Is the processor speed between the 2 I'm considering really that much different?
    - The new base 21.5" offers a 5200rpm drive as opposed to the 7200rpm in the 2011 27" refurbished....does this mean that the new 21.5" would function slower?
    - Will I kick myself for not getting the latest and greatest technology, which includes USB3?

    As of now, I have to say that I am leaning toward the refurbished as I feel that I gain more from it. It might be a little slower (?) than the new 21.5", but I have nothing to compare it to since I've never owned an iMac before, and more than likely the difference in speed is probably splitting hairs anyway.

    I would be interested in hearing others' thoughts on this. I'm not sure how long refurbished models will exist, so I'm hesitant to wait too long if I decide to go that route.

    Thanks.

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