Yes a home server is a dedi server. I use windows on mine but it is twice as hard as linux.

You do not have to use cpanel as it is a paid product. You can use kloxo or webmin on a linux system.

Remember on a home computer you need at least a 2 megaBYTE upload speed not 2 megabit or it will really be slow for a heavily imaged site.

You can always try it as it will not hurt anything.