Getting new iMac - my choice?

My 7 years old 2 core 2,16MHz 3GB iMac became too slow with LR4 and in addition has developed an overheating prooblem (it was hot outside and very warm inside). It would turn itself OFF in 40-50 minutes. Today is cooler and so far it is hot (top back) but working.

My choiceL

21.5" iMac quad core i5 2.7MHz 4GB 1T - mid 2011

As I read its RAM can be upgraded up to 32GB (four slots)

Am I missing something or on track?

Thank you.

Leo