I agree somewhat with what Future_Sniper said... and he has the right to express his opinion. So relax.
On another note if you paid over a grand for a server, you are mis-managing your money. A dual drive backup rack server on a linux platform will run you less than $700 shipped with PSU and you can get a battery backup for under $100. You're co-lo should provide most of this for you, so the server should be all you need (provided you have a co-lo). For that price, you are running just shy of a half a terrabyte on a 10mbit line.
Doesn't it seem kind of interesting to charge $40 for 250mb of webhosting with ftp access... espsecially if this site does run on a fast line (10mbit +)... with the amount of people that are contributing... you could see your hosting bills go through the roof.
For the person that said go reasearch, dedicated hosting is not that expensive. Burstable WiLan has come down alot over the past 24 months and is available at 5mb and 10mb burstable in your home for much less than t1 or greater. Most people that host via dedicated lines are running hundreds of other hosting contracts to make up for the costs, so its not a huge deal. It would be financial suicide and completely stupid to pay for a dedicated fiber line to run one single website. Instead, a more appropriate application of resources would be in the form of purchasing either dedicated or virtual rackspace from a someone like servermatrix. Your money is better spent there considering you have more than 14 mainframe connections routing your server.
Myself, I run 6 rack servers at q9 in calgary, so unfortunatly I actually know what I'm talking about. I do routing for 4,700 hotels all with 10mbit+ fiber connections worldwide.
Now I'm not saying I have anything against the donations... I feel they are great. I know the actual CODING of the site takes quite a bit of man hours. Hopefully enough gets raised that some really cool new features can be released, and we can start seing some forward moving development very soon.
I myself will probably contribute to the fund as I use this site quite a bit. Miles, you have done some great work on this site. Should you need any assistance in administration or coding the website, I would be glad to sponsor some of my time to your cause.