I would say that depends on the PSUs/Boards you're throwing in, because the power is separated from the blade enclosure:That is the ghettoist Blade Chassis I have ever seen and I've seen allot. I wonder how much power that frankenstein monster would consume going full bore. The fans must be hurricanes to run. Good god I've seen everything.
http://www.buildablade.com/images/build-a-blade_PS_tray.jpg
Then don't go the storage server route.I need to cool my Xeon D-1540 which gets fairly hot from all the constant transcoding it does. I'd consider a 2u case but all the 2.5" hot swap 2U cases I've seen have like 20-24 bays which I'll never even fill half of.
e.g.:
2U Intelligent Green Saving LCD Display & Fan Control (1x5.25"+ 2x3.5"+4x2.5" HDD Bay) Rack / Wall mount Chassis (1U Flex ATX PSU) (1 Horizontal slot full high cards by Riser Card) (9.84" Deep) Mini- ITX Server / Desktop Case ITX-G2250 (PLinkUSA.com / RackBuy.com)
+
Aluminum 2x5.25" to 8x2.5" SAS/SATA Hot-Swap Cage Backplane RW-825 (PLinkUSA.com / RackBuy.com)