There's a special offer at 1and1.com - free hosting for a year, then a very low monthly fee. Looks too good to be true to me, although I know 1and1 has been out there for a long time.
Depends on what you want to put on the site you host with them. Both GoDaddy and 1and1 hosting are notorious for not liking scripts ... things like BANS, ebay stores, anything that runs on a script other than Wordpress and you're out of luck because it won't work.
The rule of thumb is to always register your domain name with a registrar, and get hosting with a web host. Never register your domain with a host, or set up hosting with your registrar.
I am not familiar with 1and1, but there have been plenty of horror stories in the past about losing control of a site/domain when you have all your eggs in one basket.
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