I am looking for server with following specs.CPU: Highest possible within budget (preferred dual core)RAM: 512MB (2x 256)HDD: 20GBBandwidth: 200GBLine: 100MbpsBudget: $40/mo.Notes:
Check the Server Intellect dedicated server quote wizard. We've been with Server Intellect for a few years. They have a fantastic network. Very rarely is there ever an issue, and when there is, it is resolved in minutes. Their tech support and staff and are very responsive both by email and phone.
Considering that you don't have huge resource requirements, I would suggest you to opt for a VPS or even better a Cloud server. A VPS offers you almost all features that a dedicated server offers you with like, root access, freedom to install third party applications etc whereas a Cloud too offers the features that a VPS offers in addition to that a Cloud will offer you 100% uptime and scalability option wherein you can individually upgrade the resources like RAM, CPU, Bandwidth if and when required.