Hardware and concurrent limit

Dear sir,
I want intsall 4E1 card with echo canceling in my server with 120 cocurrent calls
and my planning server hardware spec as below
Quad-Core 5310 1.6G 1066FSB (8M L2) X2 CPU / 2GB ECC / Reg DDRII 667 FBDIMM /
Is it OK for running 120 cocurrent calls?Codec is g729
Or do u have any suggestion server spec?