Quad Core Xeon 3210 - 2.13GHz (Kentsfield) - 2 x 4MB cache 2 GB DDR2 667 100 Mbps Public & Private Networks Uplink Speed 1000 GB Bandwidth 5 IP Addresses Of course, most parts of the pages will be cached.
If all of the pages are cached and not dynamically generated, than that should be able to handle it. Please make sure everything is properly configured. =)
Yes. The thing with digg is that it sends literally thousands of hits in seconds, almost acting like a DDoS attack. If the hits were spread out over time, it would be much easier on the server.
An AMD Sempron is 512mb of ram could handle a front page digg article with ONLY static pages, if running Linux and apache (oh and if I tuned it all for you)!