It's simple, to set it up, just head over to Youtube.
Free domain name (.co.cc, look at Dick's guide on how to set up your domain name. http://bbs-pk.findtalk.biz/guides-f16/how-to-use-your-domain-address-instead-of-a-no-ip-one-t58.htm)
Use whatever code you wish
You can host whatever you want. Ie. warez, porn, etc. (Though it might not be legal,
Can be 100% uptime
No FTP required
No "Under consideration"
The most incompetent fools can do it
Not as much ram as the professionals may have
Not as much space
Your comp may lag
A program that runs 24/7
Can't cheat with uTorrent port forwarding (Sorry guys, you can't use my port forward tut,
You'll get DDOSed out by 11 year olds or by Dick.
You can't get customer support
More pros and cons coming soon!