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Virtualization hardware

I just found out that I need to spend about $4k today out of my budget and was considering going virtual on our servers.

We currently have a 2008 sbs server that also  has BES express installed on it and a 32 bit 2003 server that serves as a file server, hosts our time clock software, QuickBooks database, intranet server, and a couple other legacy apps we currently need.  

Since we are a nonprofit, we can get server licenses pretty cheap from Microsoft donation programs, so I've been excited to get into a virtual environment so I can run a separate server for each of those apps and get the BES off our SBS machine.

The 2008 sbs has a consistent load of about 40 people on it.  The BES serves 6 devices currently.  I figure 3 2003 and 3 2008 server instances will give me plenty of servers to distribute the rest of our apps on with room for future growth.

What kind of hardware would I need to handle that kind of load?  Other than the BES, the other 6 instances I'm considering will be very lightly used.  

I would like to use VMWare, but I think they are out of our price range, more than likely I will go with a Hyper-V solution.
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Thanks for the input guys.  

I've decided that 1 Day just isn't enough time to get up to speed and move on an idea that I wasn't seriously considering until next year anyway.

I’m going to go with some new workstations to replace some machines getting close to EOL.  By getting those workstations early, it should give me $7k $8k to spend on the server and maybe enough left over for VMware.