Your question is way to general.
What are the requirements of internet speed and hardware if I want to run server on my PC (magazine type site)?
1.) How many users to you expect on your site, on average and at peaks?
2.) How types of response times do you want on your pages?
3.) Do you want any sort of redundancy?
4.) How many sites are you going to be running on one server?
5.) Do you need a data base? If you do I recommend you get another server for that and put it behind a firewall.
6.) What type of average CPU load do you want to have?
It's truly shameful that I have to tell people that they are asking .NET questions in a classic ASP board. . .