Jim,
Have you researched the price of 8 x 2GB modules vs 2 x 4GB modules, nevermind 4 x 4gb modules? That could be the way forward and give you the full 16GB at a cheaper price than you 14GB option.
I'm not into server architecture, but isn't the memory split such that 4 slots will be from one Xeon and the other 4 slots for the other Xeon? In which case, do you need to be careful to balance the memory allocation in some way? Equally, having unequal memory in paired slots (hence DDR2) can be a problem. The above suggestion was originally based on price, but it may also be the best way forward for optimum running as well relative to the 2 x 4GB option.
Hope this helps - there are others who know far more than me on the forum, so I defer to them
Andrew