I've replied many times to this thread. I've had my LCD Panel replaced four times; twice on a 2009 model, then I convinced Apple to replace the 2009 model with a brand new 2011 model because we thought the problem was my unit, then again last week on the 2011 model. FOUR TIMES.
I have AppleCare for two more years and intend to have Apple replace the LCD the moment I see the greyish smudges (which are NOT dust, they are burst LCD cells despite the claims of some people on this thread.) and, as is my right under Apple Care, I'll have them do the repair in my home so it only disrupts an hour of my life rather than 3-5 days.
How do I know it isn't dust as so many are claiming? Here is why:
1.) A repair technician replaced the LCD in my home and said "Yup; that's burst LCD cells." Then he proceeded to remove the LCD and I took picture of the interior. While it had dust he commented on how little dust there was inside my unit. I said "Well, I have a severe allergy to household dust. We dust weekly plus we have an expensive air purifier only 3 feet from the iMac." I'm a non-smoker and an anal-retentive clean-freak. Between my known habits and the remarks of the technician it is clearly burst LCD cells due to overheating.
2.) As the technician said "If it were dust I wouldn't replace your LCD panel. These cost $450.00. I'd clean it and put it back in."
3.) One of the Apple Store techs had previously confirmed it was burst LCD cells. That's why they replaced the entire iMac for free with a newer model. They had heard a rumor of a heat shield and thought moving to a newer model would solve the problem.
If you do not have Apple Care you have a helluva fight on your hand. If you do have Apple Care then use it and use it often. The only way Apple will resolve this problem permenantly is if it becomes too costly to repair all our systems again and again and again.