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/Peo, FreeWebSpace.net
If you are not getting huge traffic in your website you can prefer VPS hosting to manage huge traffic. Power Up Hosting will be the best one to fulfill your need.
You can get many free hosting services, but maximum of them are providing limited number of services. Among those all you have to serch the best for you according to your need. You will surely get one but its just time consuming to search appropriate one.
There are a number of difference between paid and free hosting services. In free hosting it is filled with advertisments, pop ups and also are having only limited number of features, where as paid services come with various unlimited of benificial features. Free service are preferable for only...
There are many cloud services available and all are providing excellent features. But In my opinion iCloud is the best and most preferred service among all.
If you want to get a domain name for free then you can can get it easily. There are some domain registration site that provides registration for free. Just you need to signup on those sites and then you can design your website.
If you mean using one of the free hosting domains then I would definately say no because like you said if things go pear shaped you will be fubar.
If you own the domain then I would say yes but only if absolutely necesary... you could always point your domain to a different host if things go...