FC Server is only dead weight if you don't need it. For situations where multiple editors use multiple systems, and require easy access to a large pool of media assets, it (or something like it) is a necessity.
Express was also not dead weight. It's fine for on-the-run cuts, or segment editing. FCExpress projects open right into FCPro 7, and fall right into a sequence.
So, with Server gone, I'll have no way to manage a pool of close to 60,000 assets in a consistent manner so that producers and editors can manage ongoing productions with any degree of efficiency. And, I'll have wasted about $50,000 in hardware and software, and over a year of my life putting it all together -- not to mention the cost training and certification.
This could spell the end of Final Cut in our organization. Much as I hate it, Avid's solutions are looking pretty darned good right now.