What to do with older mac

So my home rig just isn’t cutting it anymore.
Powermac G5 dual 2.0 w/ 17" cinema w/ only 512mb ram!
I’m looking to get a new 27" iMac.

I’m rocking a 2 yr old 24" iMac at work and that seems to suffice. Could be a little faster so I’m thinking the 27" will do the trick.

I’ll be running CS4 Master Suite on the 27" (if i get it). Currently on my work computer it handles everything well with only 4gb of ram. The biggest memory hogging I’m doing is 5 minute video editing and some after effects. mostly i’m doing web, print and some short motion graphics with AE.

So I suppose my questions are:

  1. What does everyone think of the 27" iMac?

  2. My current PowerPC mac is dated, can’t run the entire CS4 Master. But it is expandable with ram. I’ve only got 512mb running now. Should I beef it up with ram? I still won’t be able to run premiere and some other CS4 master suite apps. Or should i use it as a server? If so how?

Love to hear some ideas on what to do w/ the old G5!
Thanks!