Can I move website to Parallels VM?

I'm running a relatively small website (WinXP Pro, Apache, PHP, DCForum+) on an old Dell PowerEdge 4300 with 6 HDs, 3 power supplies, and two CPUs. Basically, total overkill that I think negatively impacts my power bill.

I have a more reasonable Shuttle computer running WinXP Pro x64 that I don't use much.

Is it possible to move my website over to Parallels running on my Shuttle w/ WinXP Pro x64? I run Parallels on my MacBook Pro and love it, so I guess my questions are:

1.) I saw in the FAQ Parallels doesn't support WinXP Pro x64 virtual machines, but can I run Parallels itself on a WinXP Pro x64 computer? I would be running my website as a normal WinXP Pro virtual machine.

2.) Is running a website from a Parallels VM a good idea? Or am I asking for trouble?

3.) How would I create a Parallels virtual machine from my current web server?

Thanks for your advice!

 

Browsing through the documentation, it seems like the Parallels Image Tool might work for this? Has anyone had luck turning an existing computer into a Parallels virtual machine to then run on another computer?