Gnome21, Welcome to the discussion area!
Congratulations on the new iMac. You have landed in the wrong discussion area. This is for the older iMac G5. You have just purchased an Intel-based iMac and should ask future questions in that discussion area.
I hope i have misinterpreted or just not understood some info i glanced over today, but I read somewhere that the 27 inch iMac is the only system that supports an external screen.
You misread that information or that information was wrong. What it should have stated is that the 27 inch iMac is the only iMac with a video INPUT. Nearly every iMac supports an external monitor.
Does anybody know if the 21.5 iMac works seamlessly with the 24inch LED like I and the salesperson expected?
I have no idea about the connection to or the capabilities of the 24 inch LED, but your iMac supports an external monitor.