Well, it’s cheap … and I’ve got no complaints about 1and1 (they currently host huddledmasses.org).

$4.99 for 50GB of space, and 500GB monthly transfer volume. You even get 25 MySQL databases, 10 FTP accounts, and the usual scripting languages (Perl, Python, PHP). You have full ability to host multiple domains and subdomains — you even get two domain names free, and a thousand email accounts.