Apple unveiled the highly anticipated iMac 2023 (initially $1,299) at its "Scary Fast" event on October 30. This colorful desktop Mac is powered by the all-new Apple M3 chip.

The arrival of this updated iMac is significant because it has been more than two years since Apple introduced its first 24-inch iMac with the revolutionary M1 chip. This is because the Mac always seemed to be designed for students, families, and others for whom power was not the most important factor when purchasing a PC.

And indeed, if you need an all-around all-in-one, the 24-inch iMac is an attractive choice; in my review of the 2021 Apple iMac (24-inch), I said many nice things about the 4.5K display, speakers, and webcam quality of this all-in-one. On a superficial level, the new 2023 model we encountered appears to be basically the same.

The new iMac M3 is once again available in many fun color options and appears to have a six-speaker sound system, a 1080p FaceTime camera, and a "studio quality" microphone for video calls. Unfortunately, the entry-level iMac M3 has the same design and color options (limited by price) as the original iMac M1, down to the fact that it does not come in any specific color and does not have as many ports as the more expensive $1,499+ model.

Under the hood, however, the upgraded M3 chip should make even the entry-level iMac M3 a significant upgrade over the older iMac M1. For example, Apple claims that the new iMac M3 is up to twice as fast as the old iMac M1 and should launch applications up to 30 percent faster.

This is thanks to optimization work on the M3 chip, including the built-in GPU. Apple claims to have introduced a new feature in the M3 GPU called "dynamic caching" that allows the M3 to allocate local memory in real time. Simply put, the M3 can allocate the amount of memory needed for a given task to that task in real time. The company claims that this technology makes the M3 GPU much more optimized and more readily available, which should lead to improved gaming and rendering performance.

Specifically, Apple claims that the M3 chip in the new iMac 2023 is the first Mac desktop to handle hardware-accelerated ray tracing and mesh shading. The M3 CPU cores are also 30-50% faster than the CPU cores in the older M1 chips.

Apple's M-series chips are optimized for video encoding/decoding (with a dedicated media engine), so the M3 chip is expected to give this iMac solid video editing capabilities, including the ability to edit up to 12 streams of 4K video

And it's a game changer.

And when it comes to gaming, Apple claims that this new iMac M3 is the best ever at playing games. We got an early look at the new iMac M3 and Apple showed off several demos of how well it handles advanced graphics effects like hardware-accelerated ray tracing.

So while we'll have to wait until we get one to test and review to see if this iMac is truly a great gaming machine, it's clear that Apple is trying to position their products as the best place to game.

One good thing I didn't appreciate about this iMac before reviewing it is that it is powered by Apple's silicon, allowing it to run games and other apps natively from Apple's App Store. So you can use that beautiful 24" 4.5K touchscreen display to play your favorite iOS and iPadOS games at 4K or higher resolution (as well as other games downloaded from the Mac App Store, Steam, etc.).

The new iMac M3 is available for pre-order now starting at $1,299, and Apple says it will begin shipping and in stores on November 7. For more information, visit the Apple October Event Live Blog for all the latest news on the new iMac, the new 14-inch and 16-inch MacBook Pro, and the new M3 chip that powers them.

The arrival of the iMac M3 will not revolutionize the desktop computing industry, but it will give Mac fans a new option for setting up a home office.

This 24-inch all-in-one is a great all-rounder, and if you want to get work done without relying on a Mac laptop, the new iMac M3 is basically the new sweet spot in terms of price to performance--faster than the Mac mini M2, The iMac comes with its own keyboard, mouse, and monitor. It's also cheaper than the 27-inch 5K Apple Studio Display, making the iMac M3 a pretty attractive alternative to the best MacBook on the market if you don't need to take your Mac everywhere.