When setting up an NT4 server that will initially be the lone server on the network, is it best to designate it a pdc or a stand alone server?

It depends on what you want to do with it. If it'll only ever be a lone server on your network, then a stand alone is fine, but if you may want to use NT domain features in the future then make it a PDC, (unless, of course, you intend to install a dedicated PDC later and keep the NT server you have now as stand alone, in which case you would install the new machine as the PDC and keep the one you have now as it is). Basically, if you think you may want to use it as a PDC some time in the future, make it one, if not, don't. It won't make any difference to your existing set up if it's a PDC or not. Planning NT roll-out isn't as easy as it sounds as you can guarentee that if you make it a PDC on a whim, you'll regret it later and vice-versa. Hope this helps.

I would say that you would benefit more from having it PDC now. There are a lot more benefits w/ a PDC than a standalone server. The biggest one is security. If you don't have a need for security then i would that a stand alone is fine