I would like to run a Development and Live on the same box. Any ideas. I have a linux dedicated server.

Depends on the definition of dev. If that means a site, just use a virtual domain, either a sub like dev.mydomain.com or a completely different site. For the dev site, htaccess could keep anyone but you from seeing it.

If it's the server, just give dev a different port. Something like:

http://ez.no/developer/articles/multipl ... ions_howto

Or, you could run one inside a chroot (as long as the ports they listen to etc, do not clash).

See http://wiki.freaks-unidos.net/chrooted-debian-server