Here are some of the machines I run:
Cobalt Raq2 with 250 MHz MIPS processor, 256 megs of memory, and 500 gig hard drive - about 30 watts.
Mac mini, 2.26 GHz Core 2 Duo, 4 gigs, 500 gig hard drive - about 20 watts when doing stuff (it maxes out at about 35 watts when the CPUs are pegged).
Quadra 605 (yes, I like classics), 40 MHz m68040, 132 megs of memory, 250 gig hard drive, about 22 watts.
If you want REALLY low power, pick up a Jornada 728 or the likes. It takes THREE watts (the meter shows four watts momentarily now and then), with a 206 MHz StrongARM, 64 megs of memory, and a 16 gig CF card. However, this doesn't help if you want to do lots of file hosting, but I figured it was worth a mention because it takes so little power. I run several Jornadas (including the 690, which uses SH3 processor) as DNS servers running BIND.
The one that might match your requirements best, though, is a Plextor PX-EH25L and the like. You can put in whatever size hard drive you like, and if you want, you can even get the new low power 5900 RPM drives which take half the power of a typical hard drive. It has 64 megs of memory, a 266 MHz SH4 processor, and two USB 2 ports which can be used with a CD or DVD drive, a second ethernet, more storage, or whatever you want to connect. With an inefficient 7200 RPM drive, it takes less than 20 watts (15 to 18), plus it is incredibly small and so far it's been completely stable.
Note that on all of these machines I run NetBSD because I prefer having one consistent OS across all of my architectures, but if you don't mind maintaining a different version of GNU/Linux for whichever you get, you'll be happy with any of the lower power devices.