Best Practices for new iMac

I posted a few days ago re failing HDD on mid-2007 iMac. Long story short, took it into Apple store, Genius worked on it for 45 mins before decreeing it in need of new HDD. After considering the expenses of adding memory, new drive, hardware and installation costs, I got a brand new iMac entry level (21.5" screen,
2.7 GHz Intel Core i5, 8 GB 1600 MHz DDR3 memory, 1TB HDD running Mavericks). Also got a Superdrive. I am not needing to migrate anything from the old iMac.
I was surprised that a physical disc for the OS was not included. So I am looking for any Best Practices for setting up this iMac, specifically in the area of backup and recovery. Do I need to make a boot DVD? Would that be in addition to making a Time Machine full backup (using external G-drive)? I have searched this community and the Help topics on Apple Support and have not found any "checklist" of recommended actions. I realize the value of everyone's time, so any feedback is very appreciated.

OS X has not been officially issued on physical media since OS X 10.6 (arguably 10.7 was issued on some USB drives, but this was a non-standard approach for purchasing and installing it).
To reinstall the OS, your system comes with a recovery partition that can be booted to by holding the Command-R keys immediately after hearing the boot chimes sound. This partition boots to the OS X tools window, where you can select options to restore from backup or reinstall the OS. If you choose the option to reinstall, then the OS installation files will be downloaded from Apple's servers.
If for some reason your entire hard drive is damaged and even the recovery partition is not accessible, then your system supports the ability to use Internet Recovery, which is the same thing except instead of accessing the recovery boot drive from your hard drive, the system will download it as a disk image (again from Apple's servers) and then boot from that image.
Both of these options will require you have broadband internet access, as you will ultimately need to download several gigabytes of installation data to proceed with the reinstallation.
There are some options available for creating your own boot and installation DVD or external hard drive, but for most intents and purposes this is not necessary.
The only "checklist" option I would recommend for anyone with a new Mac system, is to get a 1TB external drive (or a drive that is at least as big as your internal boot drive) and set it up as a Time Machine backup. This will ensure you have a fully restorable backup of your entire system, which you can access via the recovery partition for restoring if needed, or for migrating data to a fresh OS installation.

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