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If I were going to use a free host to save money on bandwidth I would at least have a cheap paid account for index and search engine pages then link to higher bandwidth pages (galleries, movies if allowed) on the free host.
I've still got a page up from 97 or 98 on a free host. It is the most unreliable service I've ever seen and they arbitrarily change whether or not they have ads (and what kind) and movies have rarely worked or been redirected but the main HTML pages have stayed spidered in the search engines. I made a bit of money with it back then but none directly from it now, I pointed all of it's links to my domains several years ago and it still sends a bit of regular traffic to my current projects.
So I'd say yes, use free hosts if you'd like to to experiment for a variety of search engine traffic and feeds to your other pages, but don't build a main site on them.
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