Good single server solution for Magento?

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http://serverfault.com – I am setting up a single Debian server serving Magento with Mysql. High load is expected (millions of hits per day). I've been reading various people's comments and found so many different setups but I am not sure what to do if I want to. Load balancing between several servers would of course be nice but I have only one server. So how about this? Varnish in front of nginx and apache, where nginx does only static data and apache dynamic. Or would be a better idea to put varnish in front of apache only? So nginx is in front and having static data directly served by nginx and dynamic apache pag (HowTos)