I'm looking to deploy applications to my own cloud server as simply as it can be done to Heroku, is Micro Cloud Foundry a viable way to do this?
It's depends of your needs.
Method 1
If you need your own instance of CloudFoundry you can download the micro instance and use it as your private PaaS. It's a simple Ubuntu VM with services on it.
Pros:
Cons:
Method 2
You can purchase CloudFoundry as service from Pivotal or AppFog. Pros and Cons are the same for these services as rolling your own.
Method 3
You can deploy the full CloudFoundry instance on top of your favorite IaaS platform (Amazon, WMWare, OpenStack).
Pros:
Cons: