I have a "consumer class" computer (Dell Optiplex) working as a print server/file archive at the office, I consider it a cheap PC - Yesterday the CPU fan burned out and I wasn't here, today I spent the first 4 hours of the day reinstalling the OS and restoring from an old Ghost image.
If it had been an IBM xSeries or an HP Proliant, it would have had redundant cooling; hence no CPU/system failure.
Yes hardware makes or breaks your business. Power supplies that aren't redundant, will fail. Same goes for cooling, RAM, drives, etc. Ever since the big server manufacturers introduced Chipkill memory I can't imagine going back --
The manufacturers have pretty much assured you 100% uptime as long as you can keep electricity flowing into the machine, and know what you're doing on the O/S & Security side of things.
I still have a Proliant 3000 with 2 x P2/400's which I've had on 24/7 for the last 5+ years. Original drives in it, haven't done anything to the box. I can't remember the last white box I had that lasted more than 2 years. Now that we're talking about hardware, how about the Compaq Evo laptop I've been running around with for 3 years, 100% original as well..
You know brand name professional equipment is now within everyone's reach, last time I checked HP was financing servers, not a bad idea if you want to be 100% sure your equipment will be running. Consider that if you have a Proliant DL580 for example, and you've got 4 X 18.2GB drives in it, it's Saturday 11 PM, and your drive fails -- you will immediately get a SMS to your cell phone from the Insight board (if you set it up right), you can then call HP and they WILL go to the Datacenter and replace that drive within 4 hours (if you have the 4 hr contract, it's worth the €€).
Yes, buy brand name, even if it's "slower" on paper. (That doesn't mean getting SC series Dells either, puke..)