N40L microserver, £200 ish to buy then £100 cashback.
Add 2Gb more ram or 8Gb if your feeling flush and the drives you want. has room for a slimline GPU like a 5450 if you want to use it as a HTPC as well.
Mine pulls 31W peak so you can leave it on 24/7 for a few quid a year.
I'd agree with the above. I went for a homebuilt version and probably spent about 3 times as much on an AMD Llano based server (admittantly a lot went on a Lian Li case as its out on show)
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