I promised to report back on my new iMac as a DAW; several unavoidable issues prevented me doing this promptly, but I can do so now.
My machine is the iMac 27in, 9th Gen 6 core processor, 512 GB SSD, 8GB ram upgraded to 40GB. Previously I had a 13in MacBook Pro from 2014.
This might be the first proper spec machine I’ve had (though I used to build my own audio PCs in the past) but it is astonishingly powerful so far. Running Ableton, with Pro Q3 and a reverb on every track (not loads, but say 20) it gets to maybe 10% usage. This would have broken my previous machine; it feels much more than 10x better. It is hard to see what it could not do for my purposes.
The one real negative - and it’s a serious one - is that when I installed the MOTU drivers, it would not reboot, and just hung. This was pretty scary given the price I’d paid for the iMac. I had to do an OS reinstall to get it up and running. But after that, it was perfect.
Hope this is useful for anyone else considering this option, thanks for everyone’s advice. Time to make some music.