I know the answer is, "Yes, it will be faster, you dongle grappler." But, worth it to upgrade?
Thinking about replacing my 2009 21.5" iMac with a Mac Mini and a pair of 22" displays. I've been doing some scratch recordings lately with Reaper, which seems to run pretty smooth on my iMac, but hey, time to upgrade for not much reason, right?
It'll be faster, however I'd save some coin (or sell one of your many P-Rail guitars) and spend the extra $200 to get the faster processor, double RAM, and double the Drive.