I'm hoping and praying that the new iMacs (which should arrive in January) will be using the i7 cpu, at least the top of the range one. I've been holding on to my late '06 one as nothing since has been really worth the upgrade price but the i7 would be by all accounts.

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Very much so. At this point, if Apple doesn't come out with an i7 Mac until the laptop chips arrive; I will not be buying a desktop Mac. I'll replace my MacBook Pro with an i7 MBP whenever they arrive; but no way am I buying a desktop with a laptop chip in it. (Plus, I don't really want to wait that long...)