That could be a lo-o-ong wait. Your post makes it sound like the $250 deal was typical. Which it is not in my experience, or in reality.
I'm not an Apple partisan; my last gig was Android development. But the idea that there's this massive barrier to entry is a complete joke.
As for the Mac mini that you talked about, that's a far cry from the 27" iMac with the i5 that you originally described.