Yes, although if all you're wanting to host is web sites, there are cheaper Linux-based alternatives that work equally well. OS X server really comes into its own when you're providing a wider range of network services.
Oh come on cromulent! I recognize your authority ad wisdom and smarter than me stuff! I am just looking or some advice and thoughts, like anyone else here. I just bought my first mac, I am impressed with it, and I am trying to learn more about the entire mac ecosystem. Don't be a jerk.
If I wanted to create a local data center, could I host with leopard server, and cluster them?
Building a data centre is another kettle of fish entirely. You would need fire protection, power redundancy, physical security personnel, cages, multiple network connections, network redundancy the list goes on.
I suspect he doesn't literally want to do that, but just wants to see if he can host his own website locally.