Yes , after installing that exe file you can use your pc as an virtual server .
You can preview all web based applicatiopns and sql based applications same as you view on the internet.
I have installed it in my PC.....
The hard way is download Apache form its official web site and configure it manually.
But the easiest way is use the stable apache version which comes as an exe file ( included sql, phpmy admin , apache all to gether.)
elakiri