I want to set up my own website server for websites that I foresee having 100,000+ pictures and 5000-10,000+ pages, which will be accessed by hundreds of people at one time, globally, 24 hours a day. I am looking into Linux because I want to run Magento.

I have a computer that is not used for anything and can be used for this: the OS is Windows 2007 Home Edition, it has an Intel Core i7 CPU 860 @ 2.80GHz 2.79 GHz, 16 GB Memory, 1.75 TB Hard drive. I am new to Linux and was wondering if I could/should run a Virtual Machine on it or if I should overwrite Windows, as I have nothing to save, and if I do overwrite Windows will the hardware still work properly?

If I do run a VM, should/can I allocate all the memory to running Linux?

And can/should I just buy a Server with Linux Unbuntu already installed?

Finally, can anyone share where I can watch videos on buying/using a server, installing and running a Linux Server, and how to set up to host my own websites?