Based on what I read it sounds as if they "give" you a machine to put stuff on, and you're responsible for all the software that goes on it. They handle technical problems, but I'd have to teach myself to use a web server and manage email servers and handle firewalls and security and all that junk. Yes?
It would certainly be cheap, but I have no idea how long it would take me to learn all that stuff. Not that I couldn't, but I imagine it would be somewhat painful. :)
I'll have to think on that one.