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I am looking for a decent linux server dedicated with 8GB+ RAM and comparable CPU Spec. There are too many webhosts out there, any recommendation on a cheap but decent host? turnkey seems cheap, but is it good?

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This is too subjective. You'd be much better asking a question on how to choose a good webhost bearing in mind what things are important to you. – Phil Dec 31 '09 at 12:23
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Once you're over a gig or two in RAM, it's probably more cost-effective to buy a cheap server and colocate it. Slicehost, for example, is a great host that I highly recommend, but their 8GB servers cost $450/month - and that's pretty inline with what I've seen elsewhere.

Considering reputable companies in my city let you colocate a 1U server in a good datacenter for ~100/month, you'd pay for your server very quickly with the monthly savings.

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Which is great until the first time you need remote hands, or when something breaks and you're down for two days because you can't source spares over a weekend. Leasing dedicated servers from a company that manages them gets you a lot more than just "the box". – womble Jan 1 '10 at 0:30
The savings would likely allow you to have an entire spare box, or to pay for same-day maintenance from the server manufacturer. As for remote hands, that's why you get a local colo. – ceejayoz Jan 1 '10 at 5:21
Also, anyone looking for "cheap but decent" probably isn't running something so mission critical that it can't go down for one weekend in the server's lifespan. – ceejayoz Jan 1 '10 at 5:23
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