Virtualisation is definitely the way forward, splitting server roles, creating new servers will make your life easier in the long run. I've used VM Ware in a large school, amazing to see how little resources are used at times despite large number of user accessing servers.
Veeam for backing up your VM's is fantastic product, would highly recommend to anyone.
At the Bett Show last week I had a look at the Dell PowerEdge VRTX server, looks a great bit of kit if you are buying a new server for this project, I would consider their 4 hour warranty as well so you are covered just in case.