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Currently have a LOT of spare bandwidth on the server, run using less than half the ram, and only 51% diskspace used. I'm currently working to transition a lot of the sites to use steem based posts rather than a mysql database, so plan to free up a lot of diskspace also.

Wait, no, I'm going to answer my own question. Definitely nowhere near 128GB of RAM on that VPS. So 'No', I won't be running a steemd node anytime soon...

You can run a consensus node in just a few gigabytes of ram. There are several different modes.

The "full node" config required to support e.g. a website like this one requires a lot of indices on very fast storage (we use a ramdisk).

Useful to know. A consensus node might be more within my capability. Another thing to put on my 'to do' list. :)