You can simply use a hostname like server1.myart.ca; any hostname that is not in use by a web site would do.
Then, the issue of DNS (Bind). I assume I don't really need it, as all my DNS entries are managed elsewhere, by other registrars. Do I just ignore it for now?
You must install a DNS server, because otherwise the ISPConfig installation will fail, however you do not need to start it.