Hello I am looking at a dev machine and I need a lot of power to run hyper v virtual machines on it and hence I am considering this Dell model but it is pricey. Close to $3K with taxes. Any other options out there for a power hungry developer?
Questions to ask, "Can you assemble this machine and take care of issues yourself", and, "Do you know someone that can assemble this and support you if you have problems?" If you can't and you don't, then the Dell would be the way to go... I deal with Dell support on an almost daily basis, and I can't begin to tell you how superior it is compared to HP...
If you are looking for a server to host them, you could try the PowerEdge T110 with the Intel Xeon X3440. It is currently priced at $469. This chip allows for hyper-threading, thus given you 8 virtual CPUs I am running one for a ESXi server at home. You can use non-ecc memory in it, so you can add up to 16gb cheaper that way if ecc doesn't matter to you.
Unless there is a reason you need you need the blueray and Radeon HD 5870 1GB, don't bother with them. You will want to get a hardware RAID card and run the drives in RAID10 from that for decent performance. At the very least get a second drive so you main OS is on one, and the VM are running on another physical drive.
If you are look for a machine to dev with and run Vms as well, you still should think about a second drive. You might also want to think about getting two different machines. Then you can spec out what is important for the different machine's functions. For VMs, IO and RAM are very important, followed by CPU.