We use these settings:
etc/my.cnf
innodb_buffer_pool_size = 384M
key_buffer = 256M
query_cache_size = 1M
query_cache_limit = 128M
thread_cache_size = 8
max_connections = 400
innodb_lock_wait_timeout = 100
for a server with the following specifications:
Dell Server
CPU cores: Two
Processor(s): 1x Dual Xeon
Clock Speed: >= 2.33GHz
RAM: 2 GBytes
Disks: 1×250 GB SATA