Accessing a web server (assuming you have one built, even a simple one page), would be by URL (DNS name) usually, not by IP. If you have defined multiple web sites on the server, IP access will not work - only by URL.
Otherwise, it should work after 24 hours. You have to wait for the DNS to update world wide. (includes your ISP's DNS server). If not, then there is something wrong with the LAMP setup I would think.
Make sure the Apache service is running, along with the other components (MySQL, PHP, etc). Can you connect to the web server locally? If not, then it is definitely a LAMP issue, not DynDnS.
I would suggest looking into site management tools on a full blown Linux installation. I've used these sites to build a Linux server (for web sites), then used a CMS tool to manage and create multiple web sites on the one machine. You can still use the tool to manage just one web site, since it controls users, quotas, email, etc...
http://www.howtoforge.com/howtos/linux
and search for "Perfect Server". There are many various Linux distros they use, pick one.
http://www.ispconfig.org/
is the management tool I use. It is written by the same fellows that run the "How to" web site.
All are free...