I am going to start a portal redesign and update of our corporate
support server and I had some quick technical questions.

Can a single web server and a single database server host two seperate
portals?

My idea is to copy the databases, make a new portal, do all the
redesign work on the staging site and then simply change the host
header names on go-live.

(i already have a nice virtual server farm set up for the development
phase)

So does this idea seem feasable?