Ibm X3500 Server Questions

I picked up a IBM x3500 Server from the back of a scrap metal truck today, wondering if this would be worth using as my whs 2011 server? capable? I am currently using a q6600 quad core but would like to use that as a media pc. I checked and the server seems to work fine. Has 4gb of ram and a xeon 5130 @ 2.0Ghz. I can pickup extra ram cheap and another cpu is 11.00$ on amazon. Would it even be worth it to use this guy? Would I notice a signaficant drop in transfer rates?

Thanks in advance,
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