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Depends on what you plan to do with it (spam filter, virus scanner, how many databases with what load, how many websites, how much PHP load, ...)
Also, if you're running on a system with less than 3GB of RAM, but certainly on any system that's in any way memory constrained, we'd recommend using a 32 bit distro.
Using a 64 bit distro can use nearly twice as much RAM, and can cause out of memory situations to occur rather frequently.
-Eric