firewall recommendation

is the 2003sp1 firewall adequate for protecting a machine that is a web
server to the outside world, and also does file and print sharing for a
simple workgroup internally? is there adequate configurability to allow
machines on the lan (192.168.0.*) full access while blocking anything not
for the web server from the natting router from outside? (the router is
dumb and has no firewall, just everything coming in gets directed to one
internal ip) how are the logging features?