@Pete-S I turned off the R410s and 510 last year. I'm currently running a newer "entry-level" server as my VM host. It has a low-end Xeon and maxes out at 32G of RAM. I have been shopping around for a while for a more robust host but can't decide on anything.
The ReadyNAS units were free and new from a relative's business that shut down. They are EOL now and slower than I would like. I plan on a similar setup to what I have now - Plex as a VM and the new storage server as a VM with an NFS share for Plex. I don't believe I will need hardware transcoding for Plex.