Headless iMac to ride to market?

Could this be the uber-low cost Mac every pundit and their Wintel-weaned cousin has been waiting for? Apple is
expected to announce a $499 G4 iMac at Macworld Expo in just a couple of short weeks. $499? Yowzah, I bought an iPod at that price last year.

We're looking at likely a 1.25GHz processor, 256MB RAM, 40-80GB hard drive, the typical connectivity
(USB/Firewire/ethernet/modem), and a combo optical drive with support for Airport Extreme, VGA and DVI. Apparently, the new Mac is 'incredibly small,' with a height approximating the 1.73" Xserve height. That's slim, all right.

So is this it? The 'killer machine' that will gobble up hordes of frustrated Wintel users who either have no interest in waiting around for Longhorn or haven't the first clue what a Longhorn is? Not idly have some decreed that
2005 will be the year of the Mac.