The problem with using old Macs as servers in my opinion, is the lack of internal drive bays. If the files you want to serve will fit in the existing drive, you'd be fine with a Mini or older laptop. But once media files (or TM backups) become large, you're limited to Mac Pros or needing external drive arrays.
Then the Mac Pros push you to a dedicated NAS for space and/or electricity, and the laptops push you to a dedicated NAS for reliability of connecting external drives. If they fail to mount when waking from sleep, you get frustrated NAS users.
I've used a 2011 MBP as a server from time to time. It works better if I prevent it from sleeping. So the external drives never go away. But then you get back into electricity usage, with a laptop that's always on, and external drives that never fully power down.