27" iMac: What's the Best Upgrade?

in Current Mac Hardware edited January 2014
I am getting close to pulling the trigger on a new iMac. I can afford one upgrade. Would I be best served with a better graphics card, a bigger hard drive, or 8 GB of ram?

I have an EyeTV Hybrid. Watching and recording TV is fine, but encoding video brings my MBP to its knees. I only have two GB of ram. I have never had more than that. I will probably run W7 in emulation from time to time. I also do some music production with Logic Studio. I only do casual gaming. I watch my fair share of YouTube. I keep Mail, iTunes, several tabs of Safari, and a casual game open all the time. My TV occasionally records in the background. Thanks in advance for your advice.
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