I'm not allowed to meantion a hosting company I would say if you know what you want go to Hosthideout.com and go in the request forum. Loads of companies will offer you a deal and you get to pick see I didn't even say it once.
i currently use a free host who gives me unlimited everything. His site is http://gto.dynu.com/ although im not sure he is still accepting applications.
I think it all depends on what your site is for. If its just a little personal site your just starting with then either get somewhere free with ads or your own server. Then as I get more into it get a little hosted account and so on. If its for business then there is no other place than a datacenter that the webserver should be.
currently all of my websites are hosted on hostonce.com. A lot of people don't like their service, but my sites are all hosted from a single account (.cjb.net is my friend), the speed is fast and the amount of space I use is crazy. Right now, I have the following sites hosted here: Primary: Cletus The Fetus Mike Anderson Photography xBurningMikex Beyond The Grunt Call Counterfeit Matt Wrong Way Posters My Photography site alone is 250MB, but Cletus The Fetus gets the most hits at an average of 100 a day...pretty nice for a web cartoon originally known only in my town and friends. But the reason I use hostonce is the ASP hosting and the high transfer rates. A lot of people don't think the customer service is good, but for $60 a year including domain payments for unlimited space and transfer...you just can't complain.
If you don't need good customer service don't pay for it. Also as a webhost myself I have alot of friends that are webhosts aswell and we all love seeing sites that offer unlimited bandwidth or space. No one can support unlimited it just doesn't happen. Unless your paying about £1000billion a year for your hosting and you could buy a whole data center if not 2 for that
I'm currently with powweb. $7.77/month isn't too bad... And of course I have an account at dotgeek that's free, but that's for research, so we don't count it!
EDIT By: OneSeventeen Advertising in the forums is against the rules unless special permission is given by the admin. What exile meant to say was; "I host my own site"
I would stay clear of 1and1 I know quite a few people who haven't been happy about there service. I was with them for about 2 years but it just got so expensive for what you got. So I moved and they kept charging me even though I had cancel my account. So as I couldn't log in anymore I couldn't check that they were still billing me so they got a debt collector to get the money who charge me an extra £15 so I have to pay out £35! I was not pleased