Occasionally the refurbished section at the Apple website has some good deals, and this look to be one of them. While the other iMacs are generally at about an 18% discount, this is 28% off the retail price and an excellent deal on the 24" iMac. In fact, there is a 20" iMac listed for the exact same price, to put it in perspective.

http://store.Apple.com/us/product/FA878LL/A?fnode=home%2Fspecialdeals%2Fipod#overview

Model Refurbished 24-inch iMac
Processor 2.4GHz Intel Core 2 Duo
L2 Cache 4MB Shared
System bus 800MHz
Memory 1GB (one SO-DIMM) 667MHz DDR2 SDRAM (PC2-5300), supports up to 4GB
Hard drive 320GB Serial ATA; 7200 rpm
Optical drive Slot-loading 8x SuperDrive with 4x double-layer burning (DVD±R DL/DVD±RW/CD-RW)
Display 24-inch (viewable) glossy widescreen TFT active-matrix LCD, 1920 by 1200 pixels, millions of colors
Video Built-in iSight; mini-DVI output port with support for DVI, VGA, S-video, and composite video connections via adapter
Graphics ATI Radeon HD 2600 PRO with 256MB of GDDR3 memory
FireWire One FireWire 400 and one FireWire 800 port; 7 watts each
USB Three USB 2.0 ports on computer; two USB 2.0 ports on keyboard
Audio Built-in stereo speakers with 24-watt digital amplifier, built-in microphone, optical digital audio output/headphone out, optical digital audio input/audio line in
Ethernet Built-in 10/100/1000BASE-T (Gigabit)
Wireless Built-in AirPort Extreme (802.11n); built-in Bluetooth 2.0+EDR (Enhanced Data Rate) module
Hardware accessories Apple Remote, Apple Keyboard, and Mighty Mouse
Other Built-in IR receiver
# Size and weight Height: 20.5 inches (52.0 cm)
# Width: 22.4 inches (56.9 cm)
# Depth: 8.1 inches (20.7 cm)
# Weight: 25.4 pounds (11.5 kg)

hot

That's not true. Apple lies in prices for refurbished laptops for a long time. For example it says:
Original price: $1,799.00 Your price: $1,299.00 - Save 28% off the original price.
But if you look on specs you'll see, that this is old model. Now for $1,799.00 you would buy new Mac with 2.8GHz Intel Core 2 Duo (not 2.4GHz) and 2 GB 800MHz DDR2 SDRAM (not 1 GB). So, you better do not beleive anymore what Apple says.

UkieAndrew said:That's not true. Apple lies in prices for refurbished laptops for a long time. For example it says:
Original price: $1,799.00 Your price: $1,299.00 - Save 28% off the original price.
But if you look on specs you'll see, that this is old model. Now for $1,799.00 you would buy new Mac with 2.8GHz Intel Core 2 Duo (not 2.4GHz) and 2 GB 800MHz DDR2 SDRAM (not 1 GB). So, you better do not beleive anymore what Apple says.

I don't know what problem you have with this, as they're telling you exactly what it is. They're not trying to fool you by hiding the specs or the price. By the way, if this were the current model, it'd be $1599 refurb. Since its last gen, it's $1299. Still an amazing deal IMO. Quit hating on a sweet deal.

This price is not new at all, they've had this price for about 2 months.