yes, like everything in IT there genuinely isn't a one size fits all solution.@-root-: I can agree to an extent...though it really all depends on what you're wanting to do with the server. For just a file server, sure a hosted server is fine if you want to be able to access it externally.
But if you're wanting to have a media server (such as Plex), or even have a "lab" setup for messing with various things such as domain controller setup, IIS, etc., having a local server is pretty much required.
If you're setting up VMs for a domain etc the question is are you really using these 247? or are you trying something out, then blowing away the VMs and shutting down the hyper visor? - and yes, I use virtual things for testing, - but I do that on my laptop. I can hibernate and everything comes back on as was next time I open the lid...
Media center is a good example or a 247 powered device though. certainly my media center is 247 powered on, but it's a raspberry pi running open kodi, and media tomb (for DNLA). so pretty low powered - and I'm happy with that.
I've done the whole home server game before (even hosted small websites from home etc) it make some sense in the past but the cost of VPS $10 rather than $100 per month changes things for me now. though yes, there are plenty of circumstances where you either want a local server, (ether for power, or convenience, or running an OS these cheap places wont provide (like windows)...
virtual? as in you want to learn should you get a big stack of switches and have your own Cisco lab at home?...guess I didn't think of that one. very good point. What are your thoughts regarding switches?
GNS3 will let you virtual switch/router/firewall things. and Cisco have just come out with a virtual lab offering that's about a hundred bucks and will work without the (sometimes subtle) limitations of GNS3.
maybe I misunderstand the question?