I run Windows Server 2008 64-bit for similar reasons. I have a Q6600, 8GB of G.Skill DDR2 800 memory, a few SATA disks, etc. The motherboard is an Asus P5Q Deluxe, but I'll switch it for the Gigabyte GA-EP45-UD3P (it also runs Windows Server 2008 very well) used for my desktop for the following reasons:
1. Better layout for a server, i.e., it's easier to connect up to 8 SATA drives;
2. Both Ethernet ports are PCI Express (the P5Q Deluxe has one PCIe and one PCI Ethernet port);
3. I'd rather use the P5Q Deluxe for my desktop.
The only issue that I have with the GA-EP45-UD3P is the serial port that doesn't work properly, i.e., if I use it with an external USR 56K modem, performance isn't acceptable (lower connection speed than I get with other motherboards, dropped connections, too many transmission errors, etc.) That issue might be specific to my motherboard.
I don't know what your VMs will be used for, but using a single disk for two or three VMs makes them more responsive. Running several VMs on a RAID1 might not provide good performance (at least it didn't for me and my VMs are not very busy). If using RAID again, I would consider using several disks in a RAID5 configuration (the CPU is powerful enough to handle it). My hard disks are WD3200AAKS (OS) and a few WD6401AALS for VMs. I use Acronis Trueimage Home to backup everything to a 1TB eSATA disk. I can shutdown that server for backups as it isn't my main server.