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Small Business Server (SBS) is a line of server operating systems targeted at small businesses by bundling the operating system with a number of other Microsoft products that would normally need to be purchased or licensed separately. The most notable inclusions are Exchange, SQL Server, SharePoint and ISA/TMG (Microsoft's firewall and proxy server).
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It doesn't really change my answer, but a few thoughts:
Have you tested your backup? An untested backup is as good as no backup. You don't want to find out your restore strategy was flawed after the machine fails. No good there. (same logic as not running a machine out of warranty....your DR strategy involves getting parts off ebay...)
Replacing the hard drive might buy you time. Or it could put enough stress on the other drives during the "rebuild" that they also fail. Drives in OEM servers tend to all be from the same manufacturing batch and that means they tend to fail close together.
SBS 2011 is nearing end of extended support. Use this opportunity to migrate. Sooner is better.
Use this opportunity to discuss a budget for I.T. and get your servers on a regular replacement cycle that can be adhered to. Buy extended warranties to match whatever replacement cycle you choose.
These are all small steps that even the *smallest* of small businesses can stomach. It just requires the hard conversations to explain the need.