It doesn't matter if you live in Europe or the US.
The dedicated server patch is to host servers on a machine, without the need to have a copy of the game.
The dedicated server patch 1.1 is to host 1.1 servers. Because the 1.1 client patch hasn't been released yet, there's not much point in dl'ing and running it already.
-"The glass is neither half-full nor half-empty: it's twice as big as it needs to be."