Where did you buy it from? If it was BestBuy simply take it back and get another, they have a 14 day no questions asked policy. If it was Apple, there has to be more than 7 dead or stuck pixels for them to consider the display abnormal, this is true in the display industry at large.
Regarding the blurred light, if the computer was off there should be no light visible period. If that continues take it in for service.
iMac 27"- i7 X & XP Pro
I backed up today (LaCies' SilverKeeper)....have you?