New mac mini and suitability

Hi all, i was considering buying an imac27inch i7 but am struggling to press tghe buy button (this would be my first mac). I already own 2 pcs 2 laptops. Instead, i am considering buying the mac mini and putting the rest towards a cruise for the family - unlike me not to be so selfish when it comes to technology sss..
anyway, principally i want to play around with ilife - will the base new mini run this without issues? I am also interested in mainly iphone development, again I assume this machine is suitable?
Can this machine be bootcamped to run windows 7? (my durrent E6300 core2 pc runs win7 in 2gb).
All in all, would love i7 27inch but if this little beast will do the business then i might have difficulty jutifying.
last thing.. the 27inch seem to have some issues, any known probs with mini?
thanks all

I think that is Yes, Yes, Yes, Yes and No, the only real issue I have with my Mac mini is I can't put it down, I just keep using it, I even get up through the night for a quick dabble.
Go book the cruise. (And the Mac mini of course!)

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