question

First of all I would like to say that in "SQL server 2008 Standard Edition" you can create only 2 Failover cluster nodes.If you are creating the different instance also it is considered as different node only. Then you need to have all the nodes in cluster with Common Storage area or SAN(Storage area Network) or any common storage for Cluster for each node. [you can use Startwind for that but for that you need to pay]. Once Windows Failover cluster setup is completely done without any warnings you can setup SQL server instances by just mapping them with windows Cluster.

Microsoft has scads of information on exactly how to set up failover clustering. [This link is a general explanation][1] of the service and it provides links to other parts of the documentation. That will help to get you started. As was already pointed out, you must have a shared disk between the clustered servers. There are a number of other hardware minimums. You should go and read [this document][2] (part of the Microsoft package) that describes what you need to do before you even start setting up a set of clustered servers. Memory configurations are the least of your worries. Yes, you should set the max memory, just as you would for any SQL Server instance. But you've got a lot of other work ahead of you. Read through that documentation first. [1]: http://technet.microsoft.com/en-us/library/ms189134(v=sql.105).aspx [2]: http://technet.microsoft.com/en-us/library/ms189910(v=sql.105).aspx