In response to Power Wagon...
Power Wagon is correct.
Right now, the server is near the peak for standard rack mount PC hardware. Throwing more hardware at it could potentially increase the speed but the performance return gets smaller and smaller for each dollar spent on hardware.
The wall being hit at this point is the MySQL server software, not the hardward. While we can tune and tweak MySQL, we are still fundamentally bound by it.
In July, when everyone asked for us to decrease the minimum word size for searching, I noted the searches could eventually cause a problem as the database got larger. We're starting to see that occur and the photo gallery, which uses the database, caused it to happen a little sooner because it effectively added about 40% to the number of queries to the database (they are pretty low intensity queries, but queries none the less).
I tweaked the photo gallery software to use the database less and did some tuning on the database and added some indexes that but its a short term solution. Long term is to move to the Postgres database (which for smaller loads is slower than Mysql but faster for higher loads). Right now, VBulletin doesn't support Postgres, though they've said they plan to support it sometime soon...