Disadvantages of Mac OSX Server?

I don't have a lot of experience with Mac OS X Server, but from what I do know, it's just the basic Panther OS with a bunch of extra server set-up and management tools. Probably also has more core functionalities. There are no cut-features AFAIK.

the only thing i have noticed so far as i've been setting up one of our new XServe + RAID systems with X.3.2 Server is that there is no eye-candy-rotating-cube effect on fast user switching. honestly the only thing i have noticed but it may be the video card in the XServe, but i don't remember off hand what it is. when i get back to work on the server this afternoon i'll take a closer look and report back. i wouldn't go out of my way to use Server for desktop use, though. there is no clear advantage.

Not to mention there are manual ways of setting up things in client so it'd be just like server. Of course Server makes it a whole lot easier.

iLife '04 refuses to be installed on OS 10.3 server. You can easily get around that by installing on a comp that has 10.3 client or booting into 10.3 and copying the Apps over, though it won't let up upgrade the iLife apps (Garageband 1.0 --> 1.01)