I setup computer network for small business clients and have been installing SBS products over the years (SBS2000, SBS2003, and SBS2011) along with Office Professional (WORD/EXCEL/ACCESS/OUTLOOK). But I recently learned that Microsoft canned SBS product development with the last product SBS2012 Essentials (w/o Exchange).
What is Office 365? I saw somewhere that you can pay Microsoft $150 per year to install newest Office Professional software up to 10 PCs. If that is the case, then it is a hack of bargain because VL version of Office 2013 is $450 and they will be outdated in 2-3 years.
Going back to Server operating system, the reason for SBS was because it included Exchange and Remote Workplace function compared to non-SBS OS. But if I can get Exchange hosted by Microsoft and configure Outlook client to connect to "cloud-based" MS Exchange, then I am all for it. Basically I can just go with regular Server OS like W2012 as file/print server and set up a Terminal server to replace RWW functionality.
That said, I would like to hear from experts as to what they are doing for small business customers with respect to Server OS, Office Suite products and Exchange.