Well, I would say 500Mhz plus. That's the general specs. for a fast system. 500Mhz with as much RAM as you can aford.
So yea, an old 600Mhz iMac is fine. Just load the RAM up.
But if I were you I would try and score a dual 500Mhz G4 tower. That comp. is a freakin dream!!!
It is sooo upgradable it's sick.
oh yea,
There are upgrade cards fro iMac's. But the truth is, that the GOOD upgrade cards come out for the towers
But yea, you can upgade iMac's to G4 status if you are up to it.