> Seriously. Dual core...1.4ghz.
You'd be surprised how quick these ULV parts are. It's base speed is 1.4Ghz, but nearly doubles that under load - 2.7Ghz. The 2.7Ghz i5 in the next model up only turbos to 3.2Ghz.
According to this: http://www.cpubenchmark.net/compare.php?cmp=2010&cmp=6 for a single thread it'll outrun my i7-860 desktop processor.
> Galaxy s3 is 1.4ghz, dual core
A different architecture though, you can't compare x86 and ARM CPUs clock-by-clock.
> I'm pretty sure for $1,099 I can find a laptop that is faster than this
It wouldn't have a 21-inch 1080p IPS panel though. You could probably build one, but you wouldn't want it on your lap :-).
> We're talking a $500 desktop
Not using the ULV CPU and mobile graphics, they are quite expensive. If you're building a desktop tower you've got space for proper cooling for desktop parts so can get it down to that, but it won't be an all-in-one like the iMac, or will have lots of noisy fans.
> and a $100 monitor
Nearer $200 I'd say. Apple displays are pretty good, better than a TN panel based monitor you'd get for $100