You may want to get a better processor and maybe even an extra gig of ram. Layeredtech has some good offers on p4's with ht, check those out and look at the offers in the dedicated server offer section. You will be able to get away with the 2.8ghz for a little, but in the long run a better processor will save you when you start growing faster than expected.
LayeredTech operates under what appears to be a zero tolerance abuse policy, so be prepared to police your content vigilantly. I use them and I think they're great, but I only host personal web pages for friends and family. If I were hosting anything controversial (as file hosting has the potential to become) I don't think LayeredTech would be on my short list.
Enterprise Network Engineer :: Hosting Hobbyist :: Master of Procrastination
"The really cool thing about facts is they remain true regardless of who states them."