I ran Searing Wet sometime in the early 90s. It ran on a 386SX PC, 20MB hard drive, and 1-4MB RAM (which cost me around $100 per meg I believe). It had one internal modem (for incoming connections to the BBS) and one external (for outgoing connections, sending mail packets etc), on dedicated phone lines. Originally it had 2400baud modems, eventually I obtained a deal for two 14.4k modems on a special Sysop deal from BOCA in the US. This awesome grunt of a PC cost somewhere between $2000-$3000. However it had a bloody clanker of a power supply, so some nights the pc box with just the power supply and phone lines connected would be in my closet with the door shut.