Could I use a old server as a rendering system for Blender?

Hello I got a old ibm xeon xseries 440 as a sort of going away present (long story not worth telling). Its been upgraded as far as I know to the maximum specs it could take at the time, however I have several problems with it.

  1. I have no bloody idea what to do with it at the moment.

  2. Its old, like really old, possibly too old.

  3. Its power hungry and as loud as a car.

  4. Did I mention I have no idea how to set it up?

  5. Its missing drivers to get the harddrives to function properly.

Ok so those problems aside, if I put in the time to get it to function, could it be used to do cpu rendering for Blender?
And if so where to start.