There really isn't a general here. If you need a lot of disk cache, more
machines with more RAM is good. If you can run other tasks to use free CPU
on a mogilefs storage device (or run the tracker on it), then more
machines is okay. Otherwise more drive bays works okay.. Might save you on
power overall.
Just look at it objectively. How much do you pay for power, rackspace,
etc. How well can you utilize the resources, noting that mogilefs doesn't
tax the CPU much, but can benefit from filesystem cache (RAM) and many
disks.