Compromise: More RAM or better Processor

Hi
I'm looking to buy a new iMac in a couple of weeks, I know that I want a 27" one and I have a budget which will allow me to get one of two configurations:
- 2.9GHz i5 Processor, 512MB GeForce GTX 660M with 16 GB of RAM and 1TB Fusion drive
or
- 3.2GHz i5 Processor, 1024MB GeForce GTX 675MX with 8 GB of RAM and 1TB Fusion drive
I will be using the computer for web and app dev so i'll frequently be using Photoshop, X-Code, Dreamweaver and Parallels with Windows (running windows browsers for testing) and of course Pages, Numbers etc.
I honestly don't know which to compromise on; processor and graphics or ram. I realise that I can upgrade the ram at a later date, but at almost £300 for 16GB I don't want to compromise on RAM now and have to buy more a few months down the line.
This will be my first mac after having a bad time with Windows and AMD of late, so I don't mind spending the money so long as it lasts me a good few years. Any advice would be great!
Many thanks in anticipation :-)

It depends what you want to use your iMac for - if you're into video editing, the best processor (i7) and a lot of RAM will help. You do not need to buy your RAM from Apple, Crucial (in Europe) or OWC (macsales.com) in US are the two most recommended RAM vendors - check out their prices. If you get one with the stock 8 GB RAM, you could simply add 2 x 4 or 2 x 8 GB later.

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