Fan noise may be loud for use in an occupied room, perfect for basement. But maybe not a problem, try it.
Likely has ECC DDR3. ECC DDR3 used to cost a ton, not so much now. intel xeon 3400 series cpu = reasonably fast processor from 2009.
http://ark.intel.com/products/series/42926/Intel-Xeon-Processor-3400-Series#@All
I use an old server as a file/media server running windows and PLEX. When not serving data the server runs BOINC to cure cancer.
IF the server boot/runs well then likely selling as a running server is better than parting it out. If you sell it make sure the disk is cleaned up. Note: shipping cost will be high, that PC likely weighs a ton.
GL.