Sorry to hear you are so dismayed with your new iMac.
Contrary to what you've read, you can't install an older version of the Mac OS X that came pre installed your new Mac.
The Mac OSX Utilities pane won't start up at all so I can't even fix the Lion software either.
In order repair the startup disk or reinstall the Mac OS X use Lion Recovery by holding down Command + R on your keyboard at startup. (not Disk Utility located in /Applications/Utilities).
How do I return a product?
"f you're not completely satisfied with your purchase, we have several easy return options for you. Our newest option is one that allows you to return an item directly to your local Apple Retail Store. If that's not practical, you can always just send it back to us. We'll even pay the shipping for you. Click the Account link at the top of this page select Return Items from the drop down menu..
Or you can simply call 1-800-MY-APPLE.
edited by: cs
I called Apple Care and had to purchase a copy for snow leopard for $30. I asked them 3 times if it would work on this imac and they all said yes. (I'll believe it when I see it.) They said to call them when the disk arrives by mail and they will step me through loading the older software. If the older software doesn't make my new imac useful to me, it's going back!