Great news, everyone! After things getting so bad that my iMac would crash many times per day a month ago, after a bit of effort, today my iMac has an uptime of 30 days!
If you can dedicate a few hours opening your computer and removing the graphics card, that might just be enough to put all this trouble beind you. Read on...
As you know I have been in here since the beginning. Well over a year of annoying colored dots/blotches/whatever was annoying, then the crashing gradually started about six months ago. I lived with Quartz Extreme disabled for months, which did help. But it kept getting worse.
Month by month, week by week, I could see things get worse, with more graphics corruption, then hard crashes first weekly, then gradually daily, and two months ago it got to the point that every time I sat at my computer, it would crash within minutes.
Inspired by those who mentioned reflowing their graphics card, I found a satuday that I had several hours to dedicate, and carefully followed instructions to open up my iMac and get the graphics card out. I also ordered new thermal paste.
Let me first say that though I removed my motherboard, I later realized it is not needed. The 5750 can be removed with much less effort and fragile cable removal by removing its few securing screws and its one temperature cable, then lifted straight up and out.
After removing the heatsink and cleaning off all thermal compound, I decided NOT to reflow, there are just too many tiny comonents and those upside-down pose a chance of falling off. Instead I warmed it well with a heat gun, then applied new thermal compound and re-assembled everything. I also was sure to clean all contacts with alcohol.
That was 30 days ago and my iMac has been as good as new ever since. To my surprise I did not find much dust inside, that was not the issue. I am convinced there is a deteriorating connection, weather it be contacts between the graphics card and the motherboard, or solder cracks on the graphics card, both of which are worsened when cold. No doubt there is some relation to low-level software or graphics drivers that do not handle the problem well, perhaps when they do not get the response they are expecting and the computer freezes. It also seems there is clearly a batch issue with this card, and some getting replacement cards also get another with the same eventual problem.
Seriously though I wish I had attempted this months sooner. A few hours and my nearly junk iMac was new again.