You probably don't need a dedicated server for file hosting. You need drive space and bandwidth. CPU and RAM will likely be minimal.
To run a filehost setup you require a dedicated server/s,the main requirements would be storage,bandwidth and say 1gig connection,i use a small dedicated server for the front end a much bigger dedicated server/s for data storage and all have 1gig connection other wise if you have alot of users on at the same time it can slow everything down big time. I use wholesaleinternet.net for my servers and no i dont have any connection with them apaert from being a happy customer,what script are you using ???
Say what? Ah, no... File Hosting most certainly belongs on its own server. The OP has the right idea. You try file hosting in a shared environment and you'll find yourself rate limited and or kicked to the curb pretty quickly. OP, have you check the offers forum? There are a lot of people in the Web Hosting Offers area that provide dedicated servers! Do you have budget in mind?
Dedicated server wise, i'd recommend the following: - Mid-range dual core CPU - 2-8gb RAM - 2x RAID 1 hard drives of 500gb-1TB (if one goes down, the other takes over) - As much bandwidth as possible, in amount and port speed Ideally, 100TB would suit your needs.