I don't at all disagree with the OpenSolaris/ZFS assessment, but the hardware is a bit on the heavy side. You really don't need that server motherboard (knock 100 dollars off the price). The CPU is also overkill, and ECC RAM isn't necessary though at that price it's not exactly a bad idea either.
The remaining cost is just HDs - you can knock one off the list if you use RAID-Z instead of RAID-Z2 and remember to replace a drive as soon as it goes bad.
OpenSolaris itself doesn't need a full 320GBs for the OS and its software: an 80GB hard drive will suffice and then some.