How to use Windows Server 2008 as a home media center?

I have some experience with Windows Server 2008. How practical is it to use it as a home server? Anyone out there that has experience of setting it up at home?

I would like to have all my media files stored in a single location and be able to access the from different computers over a wireless network.

I know about the possibility of using Windows Home Server, which is probably more user-friendly, but I already own a copy of Server 2008 so it would make sense to use what I have.

I am also aware of the availability of the free Linux OS but I rather stick with Windows for now.
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