I have an HP microserver with 2GB ram and AMD N40L processor. I want to know what Ubuntu version will be best for and home media centre and also NAS?
On of the steps below is to install Ubuntu. You can download Ubuntu Server 12.04 LTS. It is supported for five years, and installation is simple and straight forwrd.
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Ubuntu Server is the best version and depending on how you want to consume your media you could try xmbc which is an easy download
The NAS questions has been asked a lot though How to set up Ubuntu Server as a NAS?