I completely agree. For the price (~320 bucks) with Lynnfield CPU, this is a great deal. Getting cheap raid controller, few more gigs of RAM, and a couple of big drives and you have a nice toy to run ESX on. If anyone has pointers on how to boot up / shutdown system using BMC, that would be peachy.
I can confirm that ESXi 4 Update 1 does install on a T110 without the need to customize oem.tgz. Unfortunately, there is still no health/status monitoring for the attached SATA drives.
It's JBOD for now. I'd like to have hardware RAID 10 but the list of supported RAID controllers is pretty small. When/if I buy one I want to make sure ESXi can monitor the RAID status and that is not documented in the hardware compatibility guide.