Recommended system for hosting streaming audio

I have been a happy FreeBSD user since FreeBSD 4.7, and I have successfully deployed FreeBSD to all of the systems in my workplace. The OS has been rock-solid and secure (a very welcome change from our old Windows systems!), and the entire studio has been very satisfied with it.

I have now been presented with a bit of a challenge. I need to set up a single-pc streaming audio server that will:
  • Be as reliable as possible.
  • Encode and stream a live icecast mp3 32Kbi/s audio stream.
  • Provide a simple web interface for listeners to connect.
  • Serve up to 50 simultaneous listeners, with up to 120 during peaks.
  • Not break the bank.
Simple, right? The rub is that I have never done anything of this sort before ;). I've already perused the FreeBSD 7.0 HW requirements, but the list didn't make it clear which hardware would be the most reliable and most well-supported. For the purposes above, what sort of motherboard, processor, NIC, soundcard, and other such parts would be recommended? I would really appreciate any input on this. Thanks for your help!
After some reading, I'm thinking about building the system around a GIGABYTE GA-945GCM-S2C LGA 775 Intel 945GC Micro ATX Intel Motherboard It's got onboard video, audio, and network, which I would use. I would connect all drives through SATA. The system would not run an X server, and would be administered through SSH. The hardware appears supported by FreeBSD, but is it well-supported? Can I expect this system to be stable for long periods (assuming no HW malfunctions)? Do you think this system stand up to the encoding/streaming workload? Thanks for your help!