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The resolution jump may be worth it alone, to be honest.

The new iMac has lower resolution (4480x2520, 218 dpi) than the old 27" iMac (5120x2880, 218 dpi).

The GP said their iMac is 9 years old.

Didn't previous 27' came with 5K?

Not 9 years ago. The late 2012 27” are 1440p.