There's a couple of people who have converted an iMac rev A-D (233 - 333 MHz) to be fitted in a PC-case. For example the iBox [http://www.applefritter.com/hacks/ibox/index.html] which is a somewhat crude but effective modification of the iMac. That conversion uses the iMacs own powersupply and the internal display connector which the iMac rev A-D has. This connector is just a DB15 (D-sub15, a regular Mac video connector). This makes the rev A-D iMacs perfect for putting in a PC-case. You don't need to do anything with the electronics, just take it out of the iMac-case and bolt it in the PC-case. Very plain and simple.
If you don't want to make you're own custom made box, just buy one from Marathon Computer [http://www.marathoncomputer.com/irac.html], but I warn you - it costs $399. This kind of conversion costs under $150 depending on if you have the correct tools for the job or not. If you have the tools and don't need to buy a PC-ATX-case, it will probably only cost you about $10-20 for the electronics.
With the iMac Slot-loading (350 Mhz - 600 MHz), it's a whole different deal. The powersupply is built in a very unpractical way, it's on both sides of the motherboard (divided by a divider panel) and the Video connector is a special purpose-built connector for the iMac. What we have to do to get a Slot-loading iMac into a PC-case is to create a way of connecting a more practical power supply (like the ATX) and convert the signal from the iMac display connector to DB15 or HD15 (VGA).
Tomoyuki Katayanagi have done this with his conversion of an iMac DV [http://www.webdrive.jp/mac/]. He has been so kind to translate his 3rd (and most important page) to English [http://www.webdrive.jp/mac/iMIU03e.htm]. I'm trying to replicate his success with my conversion of an iMac Slot-loading (350 MHz).
Tomoyuki used a pretty simple solution, he converted power from an ATX-power supply through his homemade circuitboard. Something I'll try replicating. He got video by converting the 20 pin video connector to DB15. I'll try to use HD15 (VGA) instead.