Well, I guess you can call me a newbie, cause I've not officially started a site..I've been in the planning process for about 5 months now. Me and my room mate were having applications on the net and shit

Well, I would go ahead and start on one, but me is short on cash due to the fact that my money is tied up in a server station right now. I'm buying the parts and stuff. Let's see. Tell me if I could use more or what not
start with 1 gig of RAM
ghz chip
(by the time I get every part they should have a 500 MHZ bus to fully support a GHZ chip or more)
atleast a few terrabytes of hard-drive space,
and a few other things.
But I'm keeping a bit here and there to find an excellent host for under 100 bucks/month if possible.
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Sometimes you just don't get it.