Unbelievable. "Those specs are bullshit! And if they're not, they suck! I can't believe we're supposed to be 'blown away' by this!"
Quit whining and take a breath.
1) We have no idea if this is true. Personally, it sounds plausible to me. I'm not going to get out of control over it in either case.
2) The iMac is a simple consumer machine. Those ghz machines (if these specs are on the level at all of course) will be very nice entry-level models for the home user or for office users. The CRT model makes sense as a bone for the education market. I was a little surprised not to see a Superdrive model, but you need a G4 to encode DVD so we won't see one til we see the other.
3) The whole "blown away" hype currently manifesting itself on Apple's website is -- to my mind -- obviously not intended to build anticipation for the iMac. Jobs may have stars in his eyes, but he's not dumb: the stakes are higher now, customers less jaded, and an all-in-one desktop isn't that impressive. If you insist on being disappointed by Apple's new offerings, at least wait 'til the freakin' keynote is over!