You'd really need an external hard drive. I haven't seen a tablet with more that 32mb drive....
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I see tablets as currently being used to CONTROL a music server, but not be the music server itself. For most of us, we will require much more storage space and more processing power for ripping CD's and distributing music data to (potentially) multiple destinations, and handling streaming audio from the Internet.
As the technology matures and the tablets get more and more powerful, then it may become possible to use the tablet itself as a music server, but I don't think we're really there yet for high-end audio data.
You may want to contemplate the alternatives instead... You can probably best think of tablets as being pretty good content consumers but not so hot as producers. They're fine for pulling stuff off the Internet, playing Angry Birds, etc. but today they're mostly a smart and portable facade. As mentioned above storage will be their #1 issue (unless you have a big hunk of NAS available). Also, the Android AppMarket is just starting to reach "minimal acceptable mass".
Using a tablet as a music server seems to be a real misuse, at least of their portability (for just one example, if you go out w/ your tablet then anyone else who was listening is kinda out of luck...). A more stationary/stable alternative will server you better