1000 members you will need a VPS if they are all regularly active
Dedicated servers work better for 10k plus active members, 100k active will need a cluster and so on. The member number doesn't matter as much as the active number.
Now for storage, the question is 2 vague. I allow members to upload up to 2500 pics, 50 videos and 50 audio files each, not to mention custom backgrounds and a few other toys. In addition, I have forums, blogs and articles active. This means that for storage I need maximum HD space. Now, must don't allow these high of upload limits but I think it shows how so many sites can vary when it comes to required HD space.