I'm gonna pretend there isn't a post about M&M's below...
Anyway, I had realized that the old installers are indeed old. So I got hold on the standalone installers that are necessary to run Windows Live Messenger. However, I could only get Dr. Watson x64. I'm not sure if it's needed, but you can try to ignore that if installing it on 32-bit. Besides, the majority of Server users use x64 anyway.
As usual, leave the Messenger installer for last.
Note: I am assuming that it works. I no longer have my Server DVD's, so I can't do direct testing. The files are similar, so it should work fine.
Download: Windows Live Essentials (Messenger Only) for Windows Servers
This should iron out any confusion from the Beta 3 installer. If any questions arise, please do comment.