I don't have use for anything as powerful as what's being discussed here, but I do run an old socket-940 Opteron server. It holds the bulk of my data files because I decided it made sense to centralize them, both for convenient access and more consistent/reliable backing up.
The server board is a Tyan S2882-D, which is a dual socket board, but I only have 1 socket populated because it's all I need. The CPU is a dual core. Out of 8 memory sockets, only 2 are populated because it's ample for current usage.
The system has plenty of headroom above the performance that I actually need out of it, so much of it's potential is untapped.
The K8 is friendly to throttling and undervolting. This was a major reason I chose it over P4 Xeon boards.
A great deal of idle power was saved with software undervolting. I don't remember the factory defaults, but I think it was something like 1.1v at minimum. I lowered it to I think 0.875v at 1GHz. It's set 0.05v higher than the minimum that passed all the stress tests I ran on it.
This lowered the CPU power usage so much that the fan doesn't even run most of the time. It's configured to start ramping up the fan at 45C, and it tends to switch on and off around that threshold. It barely starts to rotate and then stops because it's already cooled a few degrees. In cooler room temps it just stays off completely.
The worrying scenario is when you hit it with a sudden load. The CPU temperature can rise 20C in moments, while the fan is still accelerating to catch up. It's kind of scary to watch this happen. I would like to figure out some way to limit the CPU to a moderate power state until the fan has reached a minimum speed, then unlock the CPU to continue up to it's highest performance state. That way the fan vs CPUtemp drag race wouldn't happen.
The hard drives are set to spin down after 20 minutes. There are multiple data drives that are usually asleep, but the OS drive spins constantly.
For a while I used a Hitachi 2.5" laptop drive for the OS, but I failed to realize that drive was autoparking it's heads every few seconds, only to have them unparked moments later by the OS. This quickly ruined the drive. It's the same problem that WD Green drives became famous for.
There is a DVD drive but it's unplugged because they draw power all the time. I'll just plug it in if I need it.
It uses onboard video. I did add a PCIX SATA card, it increased the draw by a few watts.
I unplugged some case fans that I decided weren't needed. As mentioned above, the CPU fan is thermally controlled and hardly runs at all when the CPU is in it's lowest performance state (the mode in which I have undervolted it).
I think the system initially used something like 100W at idle, but after all the tweaking the idle power ended up at 65W. I've added more drives since then so it might be closer to 70W now (even though they spin down, they use a little power just by being plugged in).
There are still 2 120mm fans blowing constantly over 2 cages of hard drives (usually needlessly), and an 80mm exhaust fan separate from the PSU. I would like to improve these to be controlled based on detected temperatures, but I haven't done it. I made an attempt with one of the hard drive fans, but the fan I tried won't turn completely off.
The motherboard doesn't support S3 standby. This seems to be a typical limitation of server boards of the era that have multiple PCI buses. Maybe it's a chipset limitation. Not sure whether that limitation still applies on newer boards.
The only boards I saw with S3 support were entry level boards that had desktop chipsets.
It will support hibernation (S4), but the boot delay would be annoying. Also, wake on LAN is kind of a pain to deal with. So I've left mine running fully awake while idle.
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As far as cost - unless you actually need something proprietary, then server parts are generally cheap. Lots of server components get liquidated and few people are buying them. Socket 940 CPUs and Registered ECC RAM were both much cheaper than the equivalent desktop parts would have been. The PCIX SATA card was cheap also, probably about equal to the cost of a common 32bit PCI card.
The PSU I use is an AcBel API4FS06 550W, which I think are still cheaply available. Thousands of them got liquidated as NOS a few years ago, and I grabbed a few. The one I use on my modern desktop/gaming machine seems a bit stressed, but on the server it's perfectly happy.
My board and case are standard EATX. A proprietary case and motherboard combo might create some headaches, depending how weird it is.
Standard ATX cases are easier/cheaper to find than EATX. I splurged on the EATX because I just wanted it.
Right now my server (at about 65-70W idle) uses less power than my primary desktop that I leave running for at least 18hrs a day (in the low 100s). So the desktop is the biggest power hog that concerns me, but that's another topic.