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I would personally choose SPARC T4-1 Server. It's a a one SPARC T4 8-Core 2.85GHz CPU that will serve your needs very well. Benefit of T4-1 is that you can use OracleVM for SPARC (LDOMS) to create VM's and assign hardware resources that suite your needs. Unused resources you can be used for a different project, testing environment or you can just add them if you will need more performance in your database domain.
I love SPARC's, especially T-Series, but if you would like to migrate to X86 I would suggest to purchase Sun X3-2. It's up to two Quad-Core, 6-Core, or 8-Core Intel Xeon CPU. As with the T4 you can also use OracleVM (XEN) to cut the hardware in to pieces and assign how many resources you need.
Please find links below to technical documentation of both servers and Oracle VM:
One issue you need to be aware of is how you're going to migrate your database to the new server.
Maybe it's hard, maybe it isn't. But figure it out thoroughly BEFORE you decide on replacement hardware.