You can, I prefer like most people would that your TS isn't the same as your SBS.
It's a stability, security as well as a workload thing.
If you have people logging in to your server and they screw it up somehow, this is a bad thing.
So I prefer a basic pc with lots of ram and make that your TS. I make an image of it after configured and if someone screws something up on it, then I reimage it and viola like new TS running again.
Users still access exchange just as if they were connected to network and it still gives you security, and permission control.
Lots of ram is mainly important for the workload issue. Every profile running uses RAM. Also make sure to disable AV software running nightly checks on all but the main profile. TS's run very slowly when 5 users are doing an AV scan at the same time.
