Recycling Dual Quad-Core Server?

Hi guys.

I've been building comps and workstations for almost 20 years, but have never had the opportunity to work with enterprise-class hardware. I'm hoping to get some much needed advice.

My nephew is a college student studying film & tv production. He's gotten really excited about editing. But his laptop is severely underpowered for the job. He also likes to game but isn't anywhere near hard-core.

My roommate pulled and is tossing 15 rack-mount servers, 13 1u & 2 2U. The most interesting seems to be a 2U Silicon Mechanics Rackform NServe A266 (sata vers). It currently has dual quad-core Opteron Socket F procs. and 8 GB ECC DDR2-667 per proc.

We've pieced out all the servers. I have an additional 60+ GB of compatible RAM and 15 WD1500ADFD (3rd Gen Raptors), 1 Super Talent 256 GB SSD, plus misc parts, like raid controllers, etc.

Does it make ANY sense to try to re-purpose this hardware into a workstation?

Would definitely need:

$100 E-ATX (12x13) compatible mid-tower.
$100 Power supply
$100 2 Socket F coolers.
$150-200 GPU.

My biggest concern is having only two (2) PCI-E x8 (Phys & Elec) slots.

Having to replace the motherboard would probably be cost prohibitive.

Wouldn't a slightly overclocked 2500k or 2600k system be faster, cheaper and more versatile in the long run?

Any thoughts are appreciated.

Thanks,

Alden