They just call it iMac. Most assume you're talking about the current, latest one. If you're not, it's easy enough to clarify. I don't see the big uproar. Seriously, Leo and his monkeys have talked about this for at least three hours straight today. I didn't hear them talk once about iPhoto or anything that actually mattered.
I bailed and switched over to 5by5, where Dan Benjamin corralled a few regulars and other hosts from the network (I think I recognized Horace Dediu and Marco Arment's voices...which is just sad) to discuss the new release. They actually talked sales, numbers, specs, software, iOS 5.1, etc.