I am currently looking into Fax server options and have looked at analogue and Fax Over IP. Can anyone explain the benefits of going with FOIP technology instead of an Intellegent Fax board (analogue)?

I had FOIP and VOIP both for a while last year and IMO the FOIP technology just wasn't up to par. Too many missed or incomplete faxes coming in, and too many incomplete or stopped faxes going out. Multi-page faxes were a pain in the ***, as anything more than a single page FAX was next to impossible.
Since having a fax was at that time an absolute necessity, I just gave up on both and went back to my old analog carrier.
Since I've now arranged for my faxes to be delivered via email, I may go back to VOIP. But I haven't heard anything yet that would make me want to venture again into FOIP.

Thats suprising as it seems like an established market now.
What software was you using for the FOIP soulution?
I take it you patched it through your VOIP switch? what was the model of that?

I was using Vonage, for both VOIP and FOIP. I had a separate number for each, both going through their modem.