I have spent a huge amount of time and money on the issue.

The free version of SMTP and POP that comes with Windows 200X server can
work on the same machine as the Listserve.

However:

If you use the Pop service it does not do everything that LSMTP-lite does. 
It is a junkie e-mail product which gives little information about messages
and most of all, IT HAS NOT FACILITY TO FORWARD MAIL WHICH LSMTP DOES.

I have spent months and am giving up and finally going to buy a second
server just to be able to send mail.

I actually looked at and installed several E-Mail servers and was not able
to get them to work on the same machine.

George November
Lgov.org