I already have a legitimate copy on disc. Leave aside that it’s not an ideal server OS. Leave aside biases in favour of Linux or other systems. (And I would plan to install extra security-software and a hardware firewall.) Is there a technical or licensing reason why I could or should not run "Vista Home Premium" as the OS on my web-server?
Yes because microsoft does not want you to install IIS on the home edition. Now if you want to get a copy of Apache then that should get you going. But Apache runs best on a linux machine. Go get a old computer and put linux on it and let it serve up your pages.
RJ