Hey guys...
Well...I finally launched the motherfucken thing...Basically the system monitors your site 24 hours a day every 10 minutes by sending a http request and making sure your site is online and opperational as in it isn't producing a 404 or 500 error. In such event your site is down or producing a error...Our system notifies you thru icq, sms, and primary and/or secondary email addresses.
And yea...Its free :-)
http://adult.cyberwebextreme.com 
Let me know if you have any problems... (59505407 - icq)
Jon