I have also taken the plunge and purchased an older (but by no means ancient) 1U server in the hopes that I can possibly start a porn site as a source of income. After a bit of thinking about the idea, and how little contact with others doing it would require, (along with some information garnered from
here) I've obtained myself a machine to play with. Set up RAID 1 and installed the latest version of Debian Linux on it.
Of course, I've long since forgotten how to do damn near anything practical with Linux. I guess I'll have to get one of those "Linux webservers for dummies" books, or something along those lines. Getting it set up to do anything is almost half the battle on it's own.
Then it's a matter of building affiliates and getting traffic. If I can succeed in that, then I can move on to co-lo'ing the machine, and possibly upgrading / replacing it, as revenue warrants.
Of course, this could all die horribly at any of those stages. Re-learning Linux maintenance and configuration in what little free time I have is going to be a daunting task, and I'm not entirely sure I'll be up to it. That's part of why I purchased an inexpensive machine to start out with.
I hope it takes off. I think it's the sort of thing I could tolerate doing for a living, it means I'd have to deal with people in person very little, if at all... and it would give me an excuse / reason to always need to be connected (to monitor site status).