I have a g5 dual 2.0 3.5 g ram, I use it for video work (non professional yet). I cannot afford a new mac pro, but would the new imac run final cut pro and give me the upgrade I think it would.
That would, I imagine, depend upon which model you get. However, be aware that Macs other than the PowerMac Tower variety use bleeding-edge technology to fit into tight spaces.
Laptops and (reasonably) iMacs would use ball-array soldering (in which the solder has a low melting-point, and lacks strength) and flat-surface technology (in which the electronic components have very short leads, so they are highly stressed during the heating & cooling cycle).
The above is very fancy, but very difficult. Quality control problems have plagued some Mac laptops, which break a soldered lead after about two years. Litigation followed, mention of which was banned on the Apple Discussion Board.
If you have a PowerMac or PowerMac Pro now, you might want to check on this (and the ability to upgrade the video card & USB, video, & audio sockets). Note that there used to be problems with the spiffy Apple monitor and HDTV standards that were caused by resolution incompatibilities. (My memory fades.)
You may which to check the Apple Boards on problems with the previous model of iMac.