Not sure what all those specs mean ... there's no 3.2GHz x 4 ... no idea what the 550 is for ...
But I think you're saying you have the mid-2010 iMac 3.2GHz, either the 21.5-inch or the 27-inch. If you could clarify that it would be helpful.
On the assumption that it is one of those two models, you seriously lucked out. Both of them are capable of running Snow Leopard, which you can order a DVD of from Apple for $20 (assuming you no longer have the original DVDs that came with the machine). Use the DVD to erase the hard drive (after you get asked the language choice, you'll have the option to not proceed with installation and instead run Disk Utility from the menubar), then you can install OS X 10.6.8 on the machine.
Both of those models, if I'm not mistaken, can go up to 16GB of RAM, but only the 27-inch can be upgraded in this manner. If you're lucky enough to have that one, I would strongly suggest maxing out the RAM on that unit, then using the Mac App Store to upgrade to Yosemite. OWC claims that you can upgrade the RAM in a 21.5-inch mid-2010 iMac but I'll be that's an ugly job-and-a-half.