Using Fedora for a server is NOT SMART. fedora changes revs every 6 months. You really don't want to re-install and revision test all of your services every 6 month. If you want to play with Fedora service as a learning experience that's fine. FWIW I have in the past used Fedora for my little soho services (mail, file sharing, VPN) and eventually it's an old unsupported distro or else I have to spend a couple days every 6 months to patch things and learn the new interfaces.
Recently I've started using Scientific Linux (similar to centos) inside a KVM virtualization on top of F16. This way I get the stablility of RHEL/Centos/SciLinux and I can migrate the KVMs as needed. If my server hardware breaks I can run the same KVM image on another system instantly. Upgrading the Fedora underneath is a much smaller problem.
---------- Post added at 01:35 PM ---------- Previous post was at 01:31 PM ----------
In F16 it's ImageMagick-18.104.22.168-4.fc16
None are more hopelessly enslaved than those who falsely believe they are free.
Johann Wolfgang von Goethe
It depends on the kind of server you got in mind.
Fedora gets a lot of updates and here and there things will brake.
Most of the time that is graphical stuff like GPU drivers or Gnome related so if you want a text based server it shouldn't be a problem.
It probably isn't the best choice for an install to set and forget although I have seen Fedora production servers that aren't supported by patches anymore which were still going strong.