Finally migrated over to the new server!
I will let the numbers speak for themselves:
[18:27 oo@beist ~ ]% free
total used free shared buffers cached
Mem: 1554892 1522896 31996 0 23248 1293620
-/+ buffers/cache: 206028 1348864
Swap: 6265340 3008 6262332
[18:32 oo@beist ~ ]% cat /proc/cpuinfo | egrep "(processor|bogomips)"
processor : 0
bogomips : 388.09
processor : 1
bogomips : 396.28
processor : 2
bogomips : 396.28
processor : 3
bogomips : 396.28
SMP is a nice invention 
Installing the beast was quite easy, I just booted with the Ubuntu Hoary Install CD and pretty much did a normal “server” install. The only thing I had to do extra was to manually load the DAC960 driver for the Mylex raid controller. After that it was a piece of cake. Only stupid thing with the install CD and the 2.6.10-5-386 kernel that they ship is that it’s not SMP and has no highmem support. Which sucks, since I need both those things.
The install was easy. But getting it to boot up? Oh, that was a whole different question.. grub doesn’t really understand Mylex raid controllers, so I did it the other way around. I compiled a new kernel with DAC960 in the kernel, not as a module, and made a boot CD following theese instructions. I slipped the CD in the SCSI CD-ROM, booted, and after fixing /etc/network/interfaces to say auto eth0 I was good to go! Just had to migrate all the services from the old crapbox, fix some firewalling and some DNAT and it was all ready.
The old boxen is still file server, I need to get some hardware like disk frames and long IDE cables before I can put the IDE disks into the now SCSI-only server. I am looking forward to having it all in the Big Box.
