What exactly will it be doing? File and print services? It will suck compared to NW5 in those areas, especially with 64MB of RAM. If you are looking to use it as an app server it might work a little better.
Will it participate in a big domain? Will it be a BDC so you can login locally instead of across the WAN? If so, it will be pretty slow. Needs more RAM.
I don't want to insult you or anything, but if your tree was setup correctly (don't span the WAN for partitions), you will end up having to remove the entire partition that your location occupies. You don't want to see any unplanned subordinate references all, right? And before you do that you have to go remove all the replicas of your partition on every server that has a copy. Do you have rights to do this and is everyone aware that you are going to do this? Also make sure that everything is synchronized correctly before you attempt this operation or you could really hose the NDS.