Didn't realise storage was going to give me this many options. I think a 10/15k SAS setup is out of the windows, I just don't have the budget. I also think the E5-2620 is a stretch to far. Maybe I should have stated this at the start but, I have a budget of £1500 for hardware (Server licensing comes from another budget).
After taking the advice on here I am now looking at a HP ML350 G8 with E5-2420 and 8GB RAM, RAM can easily be upgrade to 16GB at a later date if required.
As for storage I am now considering 2 Samsung 256GB 840 Pro SSD in RAID 1 for OS and either 3 or 4 7.2k 1TB SATA drives in either RAID 5 or 10