I had used Dell Optiplex 755′s in the past for a cheap virtual host, but I recently got access to some Dell 780′s for the same purpose. The 780 can take 16GB of RAM which is also very handy when you are creating virtual machines.
You do need to make some changes though so that the Hyper-V role will work in Windows 2008 and Windows 2008 R2.
Follow the steps below:
Boot the PC and press the F12 key to enter the Boot Options menu and choose System Setup
Move into the Virtualization Support menu:
Choose Virtualization and make sure it is set to ON (the boxed ticked)
Choose VT for Direct I/O and make sure it is set to ON (the box is ticked)
Choose Trusted Execution and make sure it is set to OFF (the box is un-ticked)
Move to the Security menu:
Choose CPU XD Support and make sure it is set to ON (the box is ticked)
Click on Apply then click on Exit.
As soon as the screen goes blank, press the power button and turn the PC off. ( you have to power it off, not just restart for it to work)
Wait 10 seconds then turn it back on again and virtualization will now work!
FYI I am running version A14 of the BIOS