Ok, this is probably not the right thread, but its the closest i could get. i have this old computer and it has 500 + gigs of hard drive space, a AMD athalon 3700 + OC'd to 2.3 Ghz, and about 512 MB of RAM. I want to install a server OS. I want the server to be able to store all my music and movies. I want to be able to stream to my Xbox 360 , and other Windows 7 computers on my home network, as well as be able to stream and get files on the go with my laptop(Win 7) and my Android phone(sammy captivate Galaxy S). even if i cant get Windows home server any NOS will suffice.
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Have a look at FreeNAS. It should do everything that you want, and is far more forgiving of older hardware than Windows.
FreeNAS would definitely fit as would Windows Home Server. What motherboard (make/model) does the system have? WHS can be picky regarding some Nvidia based chipsets. Also, for a server, I would recommend you not OC it. No real value and only geernates more heat and stress on the system. You want reliable. It will be plenty fast as it is.