Re-ripping is not a problem.
You are kiddin', right? I just started ripping 100 of my 800 CDs and could not imagine doing 40,000 !!!
As for my two music server setups I am right now putting together:
1) Main system:
Macbook 2.0GHz Intel 2Duo (iTunes with files encoded in Apple Lossless)
2 Samsung Spinpoint T133 HD in Macally External Enclosure
Lacie Porsche HD for backup
Wavelength Brick USB DAC
Fi Y pre, Fi Super X, Cain Abby
2) Headphone and media room
Macbook 2.0GHz Intel 2Duo (iTunes with files encoded in Apple Lossless)
2 Samsung Spinpoint T133 HD in Macally External Enclosure
Lacie Porsche HD for backup
Airport Express
Lavry DA10 DAC (also used as headphone amp)
Bottlehead SEX (tube headphone amp)
Sennheiser HD650
Very helpful thread!