I wanted to remove as many excess modules as possible, while still allowing me the ability to use some of the less common devices I had kicking around (fat/ntfs flash/usb drives, serial-based switches, etc...). So after about 20 minutes of selecting and deselecting, I finally finished the initial configuration.
Some of the things I chose:
newer xeon optimizations
full SMP support.
1000hz timer freq.
deadline scheduler
As my server/workstation does not have a soundcard and only has a NVidia GeForce 5500, I removed ALL support for soundcards and left only bare minimum graphics support.
unfortunately, on reboot (after installing), i found out that I left the RIVAFB graphics support installed in the kernel, and now I cant install my Nvidia drivers as there is a huge conflict between them....

Btw, this is the second time I've ever compiled a customized kernel, so I'm still learning quite a bit about this.