iMac new or refurbed

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I was looking at the 2011 iMac 21.5" 2.8GHz i7, ATI 6770M GC with 512mb memory but have seen some refurbished iMac 27" 2.93GHz i7, ATI HD5750 GC with 1GB memory on the apple site for a similar price. The iMac would mostly be used for photo editing/graphic work (photoshop & lightroom) and cad (highdesign & sketchup). Would there be any benefit in going with the older model because of the increased vram?
 
general consensus is that it should be the 27" then :D. I take it the performance difference between the two would be negligible, although the 21.5" comes with the newer sandbridge?
 
Having popped into the apple store to take a look at the two screen sizes, must say I was extremely impressed with the 27". Had a look at the online store and they had a refurbed 27" 3.4GHz i7, so took the plunge and went for it.

Picked it up today at 8.00pm as I missed the carrier, and loving it so far and as an added bonus it was advertised as 4GB & 1TB hard drive, but its actually come with 8GB & and 2TB drive :D
 
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