Here's some quick notes on how to build a cheap high-performance hackintosh. This guide is made so you can start with ~$400 and get a useful working system, then upgrade a bit at a time to arrive at a ~$1k powerful machine that will do HD/4k video color grading.
The only real disadvantage to this system over a real iMac is that it takes effort and forethought to upgrade to new versions of OS X.
Specs:
CPU: Xeon E3-1240v2 Quad-core 3.4 GHz
RAM: 32 GB
HD 1: 500 GB solid state