I have an old desktop computer that I've been trying to sell for AGES. I guess nobody is looking for computers because it was advertised at a dirt cheap price on craigslist, local papers, etc. Anyways, I was wondering if it would be worth it to set it up as a home file server, a web dev server (I have a web host for actual production use), and maybe host a few server applications (ex: ventrillo). The computer is actually an old Dell that I cannibalized after the motherboard being destroyed by lightning, so it has fairly new parts in it.

The specs are:

• P4 3.4GHz w/ HT and Artic Cooling Freezer 7
• 3GB DDR2 533 RAM
• 80GB hdd (will upgrade the hard drive if it's even worth using as a
  server)
• basic dvd rom
• 430 Watt Thermaltake PSU (it might be important to note that it is only 60% efficiency)
• ATI Radeon x600 256MB
• Antec 300 case

It's not a really beefy machine, I just can't see giving it away or putting it in the corner to just collect dust. I have Windows Server 2008 R2 Standard and I am confident in my skills in operating most Linux operating systems. I'd also be using it to tinker with when I learn new things in my server admin classes (I'm finishing my 2nd year in college at the moment so I'm still learning)

Also, my house is quite old and the electrical wiring is pretty poor (it MIGHT be up to code, then again, where I live most people don't even know what regulations are or let alone know how to spell it...) Would it be safe to leave it running all day and is it going to run up my electric bill because of the PSU efficiency? I only have 5mbit cable internet, but I won't be running very bandwidth intense services on it so it should be ok.

I should elaborate on why I am concerned about the power. The circuits should be fine, but I'm more concerned about fire hazard. What is the likelihood that the server could cause an electrical fire? Again, thank you all for the feedback!