Let me just clear up a couple things for Mando.
CoEmu is NOT complete. You will have to code features into it yourself (This is a GOOD THING).
There are loads of code examples and features posted on the forum. You will need to be able to follow instructions and be able to figure out how they work. CoEmu is far better then binaries simply because you can change server features and add new content easily.
Binaries have alot of base functionality (things such as skills/guilds/etc) right from the moment you download it but in the end, the servers made with binaries are not good because you can't change things around easily.
If you are serious about doing a private server I strongly suggest you get into coEmu. Look at code examples for it, try adding features others have posted, test them out, fix them up yourself and LEARN TO CODE. You will be far better in the long run (aka don't download it then start crying on the forum going "HOW I CODE NINJA PLZ?!") doing that wont help anyone, least of all yourself. Learn how things work and you will be in a much better place to run your server even once it's all setup and things are functioning cause no server is ever truly "finished" you will still wanna know how to add new content, upgrade things, fix old problems etc.