The 2011 iMac spring update is running the new Sandy Bridge Intel processors, also known as the second generation of the "i" CPUs.
The July 2010 iMac update was running the first generation of these systems, and only saw a quad-core option on the the high-end 27-inch model.
The latest release sees all four iterations of the 2011 iMacs sporting i5 quad-core processors in their most basic configurations with the higher priced 21.5-inch and 27-inch models being upgradeable to i7 options. The i3 processor has been completely eliminated from the lineup this time around.
Upgradable to Intel i7 for the 27-inch models
* Configurable to AMD Radeon HD 6970M with 2GB GDDR5
The graphics cards got a significant upgrade in the 2011 iMac spring update to the 6000-series AMD Radeon HD chips.
* Configurable to 2TB hard drive or 256GB solid-state second drive
* Configurable to 2TB hard drive or 256GB solid-state second drive
Intel's latest high-speed connector is commonly known as "Light Peak", but when Apple introduced it in its last MacBook Pro update, they changed the name to Thunderbolt.
The 2011 iMac spring update features one of these ports on the 21.5-inch models, and two of them on the 27-inch models.
* Configurable to 2.8GHz quad-core Intel Core i7
* Configurable to 3.4GHz quad-core Intel Core i7