It looks to me like that is an entirely appropriate server motherboard, and a perfect way to reuse your older hardware.
If you need more SATA ports, you can use the x16 PCIe slot for a higher end adapter card. The x1 PCIe and PCI slots won't give you full SATA bandwidth, but for a home server application that is generally not necessary. (I'm using a x1 PCIe to SATA adapter in my server, BTW)
Since I said that, someone will chime in with a use case where they are streaming blurays to 5 different computers at the same time. /roll eyes/ That's great - I'm talking generalities here.