You would have to migrate to Win2K or Win2K3 if you want to use terminal services for this. I'd recommend Win2K3.
Depending on number of users, I would recommend that you run Pervasive Server or the SQL Server engines. The database and pervasive/sql server engines SHOULD be run on a seperate computer from your terminal server, mainly due to performance overheads - though with the server versions of these engines, this is not a requirement. Again, this decision comes down to number of users, as well as resource requirements for any other apps that they will be running via terminal services (Office, e-mail clients etc.).
Also, if you have a large number of remote users, then you'll need to ensure that you have sufficient upstream bandwidth accross your WAN, though one of the nice things about TS is that it doesn't require an exorbitant amount of bandwidth to be useful - technically, you can run it over dial-up
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If you've never dealt with TS environments before, you should start by going through the MS guidelines for implementing Terminal Servers in Application mode - specially server sizing, licensing etc.
Since you're still running an NT4 network (domain or otherwise), the licensing and upgrade costs are probably the first things you need to look at, inluding all the different MS upgrade paths available. Though one option you have is to run in Mixed Mode, and delegate one of your existing NT4 servers to be the database server, depending on your current network design and on whether you have enough overhead to go this route.
In other words - yes, terminal services may be a technically practical solution for what you want to accomplish, but it may not be a fiscally practical option
. And we haven't even got to the testing and implementation stage yet
- you DON"T want to just throw this together and chuck it into production; with Maximizer, you should give yourself enough time to work through all the inevitable teething issues.
This probably raises more questions for you than answers, but hopefully it gives you place to start...