I feel like an idiot for not reading the sticky
Anyways, Dan, I went bold and installed Apache 2.2.4 just now because I didn't realize it was available yet in the EDGE version. If you're using your VPS as a production (hosting) server, I wouldn't recommend it because sometimes it can have bugs. I'm not running anything really on the VPS right now and it's using ~55% of the RAM, and 128MB usage is normal for a cPanel installtion. By the way, according to your signature, I have the exact same VPS as you, so you should be able to run it with no issues.
I like cPanel 11 because the WHM symbols are a lot more modern, however, the WHM look hasn't been revamped yet. It has some cool new things like the 'Nameserver IPs' loading screen and the new apache builder. In fact, if you want to do Apache 2 on the EDGE build, click the apache update option and follow the instructions to get the newer easyapache to appear instead.
The X3 skin is amazing and offers many themes inside itself, a very cool thing for the end user. Also, in the X3 skin, there are a few new features, as well as draggable menus.
I use it for a few really light and basic things right now, so I can only assume you could run it without trouble.
If you want you can see here that I am running cPanel and on the second link an error page - note the signature at the bottom with the apache version