Theoretically. My Xserve Xeon review unit arrived loaded with a private post-release build of OS X Tiger Server (10.4.8). In that release, the Setup Assistant that runs on the system's first boot asks for IP addresses to assign to lights-out management. This, I learned, requires some planning because I fiddled with it long past sunrise and never got it right for my LAN. I did manage to get Server Monitor running on Xserve Xeon to talk to its local LOM, and located there the option for reassigning the LOM's IP addresses. I'll have to come back to the LOM; miles to go and all that.
Earlier, I said that a system should have as wide a variety of data transfer modes as possible. Apple nodded at this with Xserve Xeon's versatile removable hard drives, but under the urging of throughput-hungry customers, Apple kept going. Its new server has a total of three FireWire ports: two that operate at 400 or 800 Mbps, and one that operates at 400 Mbps. There are two USB 2.0 ports as well, but external storage and digital media devices are at home on FireWire.
Servers are just at home on FireWire. A seldom-recognized benefit of Mac FireWire ports is their usefulness as dedicated point-to-point TCP/IP links. The FireWire port on Xserve Xeon's front panel is certainly there for external media devices, but it's also a means for a FireWire-equipped Mac or Windows PC to move data to and from the server, establish a speedy Remote Desktop link, string a dedicated line between servers for replication and fail-over, or do anything else that one can do over Ethernet.
Xserve Xeon has risers for two expansion cards, and Apple puts a curious spin on this, too. Both of the bus slots are 8-lane PCI Express, with room for one 9-inch card and one 6.6-inch card. However, the 6.6-inch slot can also accommodate a 133 MHz PCI-X card. PCI-X was the Xserve G5's bus, and Apple didn't want existing customers to add the cost of PCI Express replacements for PCI-X cards in perfect working order.
Lastly, Apple didn't cheap out with the on-board graphics. Yes, Xserve Xeon is a server, but it's also a Mac. The ATI X1300 Radeon GPU (graphics processing unit) is fast and it outputs to either DVI (LCD) or VGA. To save back panel space, Apple uses a nearly-invisible mini-DVI plug. Thoughtfully, Apple includes mini-DVI to SCSI and mini-DVI to DVI pigtails. It plugged straight into a 30-inch Cinema Display and displayed a maximum resolution of 1280x1024 at 32 bits. You wouldn't play video games on Xserve Xeon, but it is Quartz Extreme compatible, meaning that all of Apple's complex graphics functions, such as native PDF rendering, can be done directly on the GPU.