Apple introduced a $1099 iMac yesterday that cuts the storage and speed and half and doesn’t allow upgrading of the memory.

Don’t buy it. Here’s why.

Today, Best Buy cuts the price of its iMac line across the board $120-140; the sale lasts 3 days. Even better, people with access to a .EDU email save an additional $150 over the prices above by submitting their email here.

That means the price of the new midrange model drops to $1029.99 shipped, $70 less than the stripped model. A new 27″ model now starts at $1509.99, also a new low.

Even without the student discounts, you are much better off with a fully functional iMac for $80 more than Apple charges for its stripped down model.