I live in europe! should i then download the new dedicated server patch?
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.
so what you tell me is that if i link 2 computers together i only need one copy of the disc to play with the other! i know the other still need to have the game installed! am i right?
no. To play the game you need a copy of the game. To host a server, you only need the ded server