Hi Jim,
I agree that RAM is more important, up to a point. ProTools users who also use their machines loaded with 2 gig of RAM for video editing (FCP and Avid Express) are having problems. I am running the HD2 system on an 800 mghz single processor G4 with 1 gig of RAM with absolutely no problems. Over the past week I upgraded to PT 6.0 which runs on OSX and the whole process was absolutely painless. Waves vers 4.0 now runs on OSX as well. PT 6.0 can use dual processor machines but, for now, there seems to be little practical benefit.
On the subject of mic pres, I love my Precision 8, my Milennia HD-3, and Night Technologies PreQ3 (I believe you and I used all of these along with your Hardy's on Patricia Barber's Companion CD.) The Precision and the Milennia are transformerless and in the straight-wire-with-gain family. The Night Technologies units sound a lot to me like John Hardy's units but unfortunately are no longer made. David Baker swears by the Presonus 8 channel unit. If I were buying new pres I'd be hard-pressed to decide between Hardys, Grace, and/or more channels of Milennia. Cheaper options would be the new Focusrite OctoPre, which reportedly contain the same pres as my Digi Control 24 (usable but not exciting) and the Presonus.
John Larson