/me was useing StormC1.x with A2630 (32MHz), and a combined memory of 7mb (1 Chip, 2 16-Bit-Fast, 4 32-Bit-Fast)....
Thats probraly the absolute minimum for doing anything above hello_world in C++.
32MB and 040 will work o.k., but more is allways better (must admit that I never had an 040).