Thanks for your nice words.
Yes it is possible to have both editions on the same server. The projects will be in different virtual directories, so they will not interact with each other. The project managers are also installed in different page groups and virtual directories, so there will be no problems. You can choose which Project Manager you would like to run from the Start Menu. Careful what you install second: the edition of the TIU site will be edition that is installed last.
Let us know if you need any further assistance.
All the best,
the Telerik team