I know the request was for Compaq, but...

I personally really like the HP E50 server.  Built-in 2940UW hardware
on the m/b, fully cabled for f/w, comes with 4Gig f/w SCSI drive
and Intel EtherExpress PRO/100+ card.  Built really well, handy
little drive bays, can be ordered standard with HP DDS-2 DAT drive.
It's a PII-300MHz CPU with 100MHz SDRAM mem.  EIDE CD drive.  Not
too expensive for all that (~$3K Can., which is probably about ~$2K
US).

I already have three of them...

-bmw