Opinion On My Server

I am getting ready to order my server through a reputable company and am new to the colo thing and would like to here from some others letting me know if this server will be plenty for what I want. I have been using a dedicated server with Liquid Web for the past two years. The server I have with them has the following:

Processor: Dual Opteron 242
Memory: 2GB DDR Registered ECC
Hd1: Dual 120GB IDE / Hardware Raid 1
Hd2: 120GB IDE Backup Drive
RemoteBackup: 50GB Remote Backup


The server I am ordering is listed below. This has more memory and hard drive space then my current dedicated server. I am pretty sure that the 2 dual Xeon Woodcrest 5150’s will blow away the 2 dual Opteron 242’s. Am I correct in assuming this?

I would like an opinion on with this is a good server or is it to muck or to little. My train of thought when building and ordering this server was to build one that had plenty of memory and storage along with a good processor that I would not have to worry about for a while. I am thinking of changing my hard drives to 250G hard drives. So was this a good build for my train of thought?

2 dual Intel Xeon Woodcrest 5150 socket 771, 4x 2.66Ghz/2M L2 cores
Supermicro X7DVL-E dual socket 771 server board, Intel 5000V chipset
8G (4x 2G) ECC FB-DIMM DDR2-533, 2x open
2x Western Digital 160-Gig SATA-II RAID Edition, 7200rpm, 16M Buffer
2x Western Digital 160-Gig SATA-II, 7200rpm, 16M Buffer
on-board Intel ICH7R 4-port SATA controller
on-board Intel dual-port gigabit NICs
on-board ATI ES1000 Video, 16M
24x slim CD-ROM, no floppy drive
SuperMicro SC813MT-420B 1U Rack-mount Chassis, Black
4x Hot-swap HDD Carriers & 1x4 SATA Backplane
supermicro 1U 420w Power Supply
1U Mounting Rails/Brackets Kit included