After trying a few things suggested on this topic I can wake my ethernet connected iMac (mid 2010) by initiating filesharing or screen sharing from my MacBook Pro under most circumstances, but I have noticed a few things:
If I sleep the iMac from the Apple menu, I cannot wake it from my MacBook, ever.
When the iMac is connected via wifi only, sleeping from the Apple menu causes the iMac icon under sharing on the finder sidebar on my MacBook to dissapear immediatedly. When it's connected via ethernet the iMac remains listed under sharing, but I cannot wake it.
If the iMac sleeps after the specified time in Energy Saver settings, I have been able to wake it after making the following changes:
Changed hibernate mode to 3
Changed networkoversleep in com.apple.PowerManagement to 1
What I'm questioning is, if the iMac is ever actually going to sleep after the set time, or if it's only truly sleeping after clicking sleep from the Apple menu.
I hear it become active while "sleeping" every few hours which I believe is supposed to happen. Haven't checked if it does this when sleeping from Apple menu.