Cheapest hardware (price per meg) for memcached?

Hi,
At the moment we run memcached servers on 3 machines that have spare
RAM, which is very convenient, but in future we may want/need to buy
hardware specifically for memcached. 

Has anyone looked into what hardware setup is cheapest if you want to
conjure up a non-trivial amount of memcached space?

Netbooting a bunch of cheap 1u servers with inexpensive CPUs and
motherboards with as many RAM slots as you can find?

Anyone flirted with more exotic solutions?

Do LJ have dedicated machines for memcached, or are they running it
whereever there is spare ram? 

Cheers,
RJ

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