hosting own email..

i have a theory on how to do this and i want to see if i could actually do it. i have win2k adv server running on my network server box and its got an email server built into the OS...now tell me if im right in thinking this

if someone sent me an email they would be sending it to "[email protected]" right? b/c im not registered for a domain so they would just enter my ip? if thats correct would i be right in thinking that i could setup a no-ip account so instead of people typing my ip they could do "[email protected]" or whatever i setup the no-ip thing to be????

You need an MX record with a domain. I think NO-IP can do that, but you may have trouble with reverse lookups because your ISP will turn up as the net block owner instead of your domain.