Apologies to the OP as well! [:$]
But to answer your question, Mark, I don't think calibrating it will be an issue. I've been able to calibrate bright monitors. We have some nice ones at work - one of my microscope systems uses a 30" Apple Cinema Display, which is actually a little brighter than the 27" iMac (400 cd/m2 vs. 375 cd/m2), and the X-Rite Eye-One (i1) Display 2 has no issues with it.
Regarding specs and costs, I actually think a lot of Apple's reputation as 'overpriced' comes from the fact that they don't sell 'low end' models. Even their bottom of the line models are spec'd out significantly higher than a lot of Windows boxes. Also, when people compare machines with the 'same spec' they usually aren't.
The 27" iMac a great example of how sometimes 'similar specs' aren't the same. How many Windows boxes come with wireless keyboard and mouse standard? The display in that iMac is really excellent, an LG e-IPS panel - Dell recently released a display (the Ultrasharp U2711) based on that panel - it retails for $1100 (and it doesn't even have an integrated webcam . You don't see that as part of the 'marketing' - Apple just calls it a 'big, beautiful display' and rolls the cost of the panel into the total cost. So if you get the $1700 'low end' 27" iMac, you're getting the 'rest of the computer' (3 GHz C2D, 4 GB RAM, 1 TB HDD) for $600. From the Dell website, an Inspiron with a 3 GHz C2D, 4 GB RAM and 1 TB HDD costs $800, so that'same spec' Dell towerplus the 'same spec' Dell display comes out to $200 more than the iMac. But hey, with the Dell you get a nice black box to set under your desk and a bunch of cables to tangle up - maybe that's worth a couple of hundred bucks...
Have I converted you yet?? [:P]