Considering it's been ages since Apple has updated the Mac Pro, it isn't really a recommended option for professionals. Many pros have abandoned Apple the past years, as its obvious Apple is shifting ever more towards the consumer and away from professional use. The 5K iMac you mention is basically a regular mainstream i7 system with a good screen. That's actually nice, but nothing really pro oriented. The thermal side of things is obviously not optimally suited for calculation intensive workloads. That honestly makes your push for open-mindedness, or "you should do exactly as I say" as some would call it, a bit puzzling. Are there any tangible benefits other than just "it's better" and "act like a pro" that give you reason to push the matter so relentlessly?
I own a 2010 Mac Pro (6 cores at 3.33 GHz) with an AMD 7950 graphics card and its performance is awesome. I haven't tried editing 4K video, but for 1080p it's fantastic even with color corrections, etc. The Apple advantage in this case is, for example, largely seamless OpenCL (unlike Windows, where there seems to be a lot of trial and error to get a GPU to really work for anything but games). As for professional usage, Final Cut usage has been growing as far as I know.
Regarding the Mac Pro updates, the cylinder Mac Pro didn't have a too dramatic advantage in CPU performance, but that's just because CPU performance is hitting a ceiling lately. Its main advantage is less power consumption.
Dave, if you are curious let me download a file from somewhere and I can try encoding it with Compressor (Apple's transcoder) and Handbrake and get back to you with the results (time spent, etc).
I don't have Vegas or Premiere however, so I can't import a project.