Hi. I would like to do the conversion trick on my copy of server2k8 and wanted to know two things.
1) Does windows server 2008 include WinFS support (formatting as winfs, converting from ntfs and botting off winfs partitions)?
2) Can the converter work on the install media (I would convert an iso downloaded off the M$ website and burn it to DVD, I got a legit key given to me by the principal at my former highschool when they changed IT managers and the new one dumped the winserver 2k8 in favor of netware)?

1. WinFS isn't used by any Windows Operating System yet. I don't know when they are going to implement it.
2. The Windows Server 2008 Workstation Converter currently doesn't support patching iso images; you have to run it after the installation. However, using VLite you can customize your dvd. Maybe you can also take a look at the WAIK.

Good luck!

Another Q.
Is there anything missing in server 2008 that exists in vista (in terms of included programs)? I saw the server 2008 iso today and noticed that it's 2.7GB while the vista one is 3.9GB. Does the converter somehow adds the mising pieces of software?

If you make a list of the applications you want to use (that are included in Vista by default), we can tell you if they are also available in Server 2008. Here you can also see what applications are installed too when installing the Desktop Experience Feature.