Hi hooshoo,
Welcome to the community! As jrmunday so kindly linked for you, that HP calculator is your best friend when deploying or re-architecting HP servers (save that link!). You should consider awarding him points by clicking "Correct" since he seems to have answered your query. In addition, you can also award points for "Helpful" answers as well. Anyway, I will also provide some feedback based on my experience running VMware on HP below.
As you will see by reviewing the HP calculator, the sweet spot for G7’s is 144GB of RAM which gets you a speed of 1333MHz when using the fastest currently supported memory. Adding any amount of memory above that will drop you down to 1066 MHz. For the G8’s, the sweet spot is 256GB which gets you 1600 MHz. Adding any amount of memory above that will drop you down to 1333MHz.
Personally I always deploy my HP clusters with the fastest possible RAM config (i.e. the “sweet spot”), so my G7s are always 144GB (@1333MHz) and the G8s are always 256 (@1600MHz). Also, where possible I prefer to make dedicated clusters for the G8s to get the most out of them (i.e. as opposed to dummying them down to lower EVC modes, etc.). Not always an option though I know.
Anyway, depending on your workload characteristics and tolerance for perceived or actual slowness you will have to decide what’s right for you. Before intentionally degrading the memory speed (either by using slower memory or missing the sweet spot) you should study this topic well and understand the tradeoffs. In some cases the requirement for memory capacity outweighs the performance requirements. That’s a business decision more than anything. App owners always want the fastest possible so that's what I give them :smileyhappy: