If it's worth saying, but not worth its own post (even in Discussion), then it goes here.
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The two relevant questions here are:
What's your ISP's upload speed and stated policy towards home servers? A lot of ISPs prohibit servers for residential customers, though actual enforcement is rare.
Are you sure you're up to the task of handling security for your home server that will be exposed to the 'net?
You're right, it's prohibited. That doesn't concern me too much.
Frankly, no, I'm not sure at all. Good point :/
Follow-up question: What sort of domain/hosting sites can give me, say, a gig of storage and a few gigs a month of bandwidth for a low price?