Something for nothing??? 1&1.com?

Ever heard of http://www.1and1.com?

They're offering free web hosting for three years. Almost sounds too good to be true unless they pollute you sight with Pop-Up Ads, five inch thick banners and the like. Maybe I'm too much of a cynic but I figure that this day in age you never get something of value for free unless there is something else of equal or greater value in it for the people offering it.

If you've had personal experience with this company or United Internet (their parent comapny) please share your experiences with us!