I'm a pretty big noob when it comes to setting up MySQL for performance. And honestly I'm not worried about the fine tuning to squeeze every last bit of performance out of MySQL, but I do know that the most important thing to do that provides some of the best results is setting up caches/buffers correctly.

I've tried to keep things simple by using only InnoDB as a storage engine. And I do have a dedicated server for MySQL. It has 8gb of RAM, how should I be allocating that to maximize performance? I'd like to be able to fit my entire database into memory for the best performance. The database is about 5gb. Is this possible?

How much memory should I allocate to the query cache? How much to the InnoDB buffer pool? How much for the rest of the computer (i.e. non MySQL related processes)? Etc.

Since I'm not using MyISAM I don't really need to put a lot of memory in the key cache correct?