Well, I like the Hyper-V that is in Windows Server 08, so i think it will be fine. I am on a linux server, but I may get a Windows Server in the future. Anyway, Paul Thorrott likes Windows Server 08 and home server, so I may try it out.
Anyway, Direct X 5.2 was the last Direct X for windows 95. http://en.wikipedia.org/wiki/Direct_x