You've got to ask yourself a couple of questions
What will you use it for? It looks to me like a P4 Xeon which aren't very powerful these days. It should be powerful enough as an email/file server but I have my doubts on anything more.
Where will you house it? 1U stuff is notoriously loud because of the 40mm fans running full tilt all the time.
You've also got to remember that these machines do not take the cheap and chearful memory that desktops do, these take Registered ECC ram as a bare minimum which can be expensize, even in the 2nd hand market.