Did you get the E3 1265 v2 because the server needs a GPU/IGP, or can it be run completely headless?
The server's iLO has a built-in Matrox G220eh, so the GPU is not needed. I run it completely headless, as the iLO has a full IP-KVM. The iLO will also let you remote mount a CD or an ISO image, or even a folder, so you can load an OS or boot up to do a firmware update completely remotely.
I bought the E3-1265L v2 for several specific reasons.
-L for low-voltage. The Microserver's heatsink is rated for 35w TDP, and this is the coolest quad-core Xeon (45w TDP).
-Much better performance in case I go the hypervisor route (transition from 2core/2thread to 4core/8thread).
-Support for VT-d, AES-NI, Turbo, TXT, features the original CPU doesn't have.
If I knew I wasn't going to go hypervisor for sure, I'd run the E3-1220L v2, which is 2core/4thread, 17w TDP and has the other features. Right now, I'm using my old Gen7 N54L Microserver to test Hypervisors out (currently trying Citrix XenServer), but it's a weaker CPU, better suited for a single OS; it's okay to find out what I want to run in the long run.
To Mentawl: The temps on the CPU are quite reasonable, even when running Folding@home on light (which is constant 50% on each core). The one temperature I'd like to control better is the hardware RAID controller chip on the SmartArray card. Everything else is good, and I've never had a hint of instability even with the upgrades.