I currently do this with SME. I have separate boxes for mail and for the web server. I would recommend a 3Ghz P4 with HT, 1GB ram, and 2 IDE drives (sata not supported yet) for the mail server. These are the specs for my e-mail server, serves about 800 mail boxes with no problem. Install Knuddi's clamav and spamassassin contribs and the backup to workstation contrib and you will be set for e-mail. I actually do not have a backup e-mail server, never really had a need for one. Just keep good backups.
For a web server, you could use something less powerful. 1Ghz, 256MB ram, and 2 IDE drives. I would install the mod-gzip contrib, ftp chroot contrib, the awstats contrib, and the backup to workstation contrib.
Now for the backup, I have a third pc setup with a drive with the operating system on it and a drive just for data that is larger then the combined sizes of the two server's drives above. For example, if you have 20gb hard drives in the mail server and 40 gb hard drives in the web server, I would use a 60gb hard drive. I would setup the lan IPs of the two servers and the IP of the third PC to be on the same subnet. I then would configure the backup to workstation contrib on each server to backup to shared directories on the data drive in the third pc.
This backup pc is for disaster recovery, it has worked well for me.
HTH