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Do you already have a site established that will actually use such large amounts of space and bandwidth that we could cover with ads to recover the costs?
Because that'd be about the only way you could hope to see something like this for free. The IRC and Shoutcast requirements just make it worse- you'd need to have shell access at minimum for them, and shoutcast in particular is a huge bandwidth consumer as well as a potential copyright problem.
The specs you give are higher than some VPSs have.