Well, here is my experience which I hope would be helpful for some of you to make a good decision going forward.
I purchased two years ago a 27" 5K iMac, base configuration. I got it on sale for $200 less, and being new to the iMac world I thought this would be a good entry point to give it a shot.
Don't take me wrong, this is a very, very nice computer, much better than any PC I have ever owned, but I also have to mention that I own a MBP 2015 model with an SSD drive in it, and when I compared the speed between the two is night and day. Boot time on the MBP is way faster, app open time is 2 seconds compared to 14-15 seconds on the iMac (HDD), and at some instances in very demanding situations, it would lag a little. I'm not a computer expert so this was my HARD way of learning the importance and difference of a HDD (even though is 7200 rpm) and a SSD drive.
If you have the budget, always, always, buy a fusion drive or flash drive. If you need additional storage you could buy a reasonable priced external HDD or SSD.
If you don't have the budget, then this is still a very nice computer.
Now, I don't have an iMac with a fusion drive to compare between iMac's, I just compared an iMac between a MBP, but I think the results would be similar, the iMac with the SSD version will be much faster, with the same processor and same RAM as the HDD one.
Here's what I did:
- Purchased a Sandisk extreme 500GB EXTERNAL SSD ($170 @ Best buy or Amazon). This is a 3.0 USB drive.
- Formatted this drive so it can be read and written by the iMac. The instructions are here. How to set up and use an external Mac startup disk - Apple Support
- Loaded OS Sierra to it. The instructions are here. https://support.apple.com/en-us/HT204904
- Then loaded a backup copy of my files and apps from Time Machine.
- Finished.
I ended up with an external SSD with macOS as my bootable drive, and because I restored my information from time machine, everything was there.
Now boot startup speed and app opening speed are incredible. They match even my MBP's.
The overall performance got very much improved. It feels like a high end machine.
I highly recommend the procedure. And it is a low budget one, I only spent $170 dollars and ended up with a 500 GB SSD drive on my iMac, plus the 1TB HDD that I now use for most of the file storage. The apps and files that I need high performance on are on the SSD. Files that I just need to access them sporadically or very small files I store them on the HDD.
I would be hesitant at this point to go to a SSD TB version for improved speeds, taken that most of my work on the iMac is light, and the speeds that I'm seeing right now match my MBP with an internal SSD in it. I think for most of us an SSD through 3.0 will deliver incredible results.
Additional note - I have not read anything about the durability and reliability of an external SSD as a boot drive, so I guess I would need to find out for myself. So far so good. Also, the internal HDD has and keeps the original macOS, so if anything happens to the external drive, I would just simply boot from the internal again.
Hope it helps!