Recording audio from a tape deck on the new iMac - Audio Input?

Hi folks, I used to have the older 2008 iMac which had an audio IN socket and also the audio OUT, but the new iMac I bought at the start of this year only has the Headphones socket, which apparently is supposed to also act as the Audio In, However I've never been able to get it to work and noticed some people online suggesting a Griffin or a Berringher device at around £30?...
I'm wondering if anyone knows do the cheaper devices on ebay for around £5, such as the basic USB Audio devices with the Input mic and headphones out socket work with the new iMac or do I specifically have to get one of the more expensive devices?
I have the Roxio Video to USB device, which uses a special Roxio application to capture the video, so I'm wondering if these devices only capture to their own specific applications or will it allow me to record through the USB to say, Garageband or one of the Adobe applications?
I'd basically like to be able to hook my tape deck up with Analogue L&R and then hook the mini audio jack into the mac and record, that's what I used to do... and the sound quality was pretty good...
Any help on this would be cool, thanks!

Thanks. Now, since Apple failed to provide an audio in jack for their new and improved iMacs (mine has one), all I can suggest is that you contact AppleCare, since you have 90-dqy free phone support. If need be, you might reconsider your purchase, but that's for you to decide.

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