The 3950 is a BIG box. Are you doing an 8-socket box? Dell doesn't have anything comparable with that. IBM suggested that I use the 3950 with an additional chassis just to get the extra memory slots. It ended up being more expensive than buying 5 Dell 2950's with 16GB of RAM each. So, that's what we did. Plus, our load is spread out across more servers. It's not as easy to patch as having just two 3950's but, it's worked out well for us.
Now, Dell has the R805. It has 16 DIMM slots like the IBM 3950. So you should also be able to stuff them with a lot of memory faily cheaply. We've been pretty happy with Dell.