No need to tell, next time backup everything! (You dont even have backed up the system state ?)
Its not impossible, but why a Hacker would remove all is privilege ? He probably creat a new account, or rename the administrator account as guest and guest as admin

Well, lot a possibilities. I strongly recommanded you Reinstall on srcatch your server. Even if yout technician bring it back, you have no idea what the hacker did to it.
And never forget that logs in a Windows environment are easy to erase, and easy to create while it havent been securized (He can have create some kind of fake logs to...) Keep that in mind! So plz, reinstall everything from new!
For your Exchange data, I wouldn't care to much about it. All the Exchange data are only on 2 files. If you can have those 2 file, you will be able to "rebuilt" all mailboxes (But maybe youll have to relink them manually with all users). Those file are the *.edb and *.stm Copy those somewhere on your network and youll be ok.
And for your last question, hummm you still have the "System" account that can run service. So that not impossible for a server to run without admin. But not to be managed!!!
Hope it helped you!
Laterz.
- Security is a never ending job.