Thanks for the feedback, Andy. I'll run your thoughts past GoGrid and see what they can do. I could offer 2008 at the same price as 2003 (if I drop the memory), but in my experience it's not even worth trying to run 2008 on less than a GB of RAM.
I also want to know more about the ease with which folks can join BizSpark. I applied, but haven't heard anything back. One of my ideas was to run a shared SQL Server database for multiple developers under the BizSpark program.