For a server install, I recommend the "Long Term Support" (LTS) releases. The current LTS is 10.04, which will have sever support through April 2015.
https://help.ubuntu.com/10.04/serverguide/C/index.html
The "point" releases (currently 11.10) give the latest desktop apps, but only have an 18 month life-cycle; this is why I recommend the LTS for stable server use.
Ubuntu uses the GRUB2 boot loader, which has the ability to "dual boot" with Windows if you like.