Hi Vids,
Firstly, well done for getting the SharePoint server successfully built.
There are many ways to configure a server to suit a SharePoint Installation. It's all down to what you intend to use the server for and the type of environment if fits in with. To a have a routable url, the server should at least have one fixed IP address (DHCP isn't a requirement). As a standalone server, it does not need DNS but it must be able to access and query a properly setup a DNS server. If you don;t have these on your network, the yes DNS should be installed and you would typically use and AD Integrated DNS service.
Setting up a server is a specialist job and whilst there are various wizards and self help tools to get you going, there is no substitute (in my opinion) for a solid understanding of network architecture which would include TCP/IP, DNS, Active Directory amongst others.
Paul Leigh