We just spent $50,000 to address this exact same problem. We bought two machines to serve as load balancers, four web servers, and two machines to serve as a storage area network. Take a look at: http://www.linux-ha.org/
The system relies on two main pieces of software: ldirectord and heartbeat.
One load balancer is running while the other is shut off. Heartbeat is running on each load balancer machine. If Heartbeat sees that the load balancer on the other machine is not functioning, it starts up the local load balancer. This way, you only have one load balancer running at a time... but you have a backup ready to jump in if the other one goes down.
Now that you have redundant load balancers, you can put in as many web servers as you want. Two, ten, fifty, whatever. The load balancer software (ldirectord) checks the web servers to see which is busy and routes traffic to the less busy servers.
The beauty of this system is that when you need to add another web server, you just do. You don't need to change anything on your web site or anything.