Home Sharing or Lion Server Share Point?

My music collection is too large to sit on my laptop's HDD. I have an external USB drive to hold the music which is connected via USB to an Airport Extreme.

My laptop runs iTunes, has the library on the local drive and is connected via CAT5 to the Airport Extreme. This has been a pain for a few reasons.

So I got a mac mini and installed Lion Server. I imported my music to the internal disk.

Question:

Should I set up itunes on the server and turn on home sharing and never even set up an iTunes library on the laptop?

Or

Should I set up a the music folder as a Share Point and have my laptop build its own library from the shared media folder?

Server and Laptop connected to the Airport Extreme via Cat5.

Server has a manually selected (static I think) IP

Sever is set to never sleep but put disks to sleep when not in use.

What do you all think?