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What do you all think about this?
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It depends on the situation... it's like asking "
What do you think about getting a lift from a friend instead of getting my own license? I know the person, and he won't charge me much at all." - It's all fine if that person has a license and can drive, but if he can't... well then you'll have problems.
I don't see a problem, as long as they know what they're doing - if they don't, then there is a problem, like the driving example.
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If you don't know what you are doing, then don't try it..
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Exactly - It's all fine and all if you can actually manage your own server, and if you're able to handle it, however if you don't know a clue... best to leave it alone.
Although - it wouldn't be as bad if you actually say went to a fully managed dedicated server provider. However, I'm not talking about a semi-managed placed like ServerMatrix/ThePlanet, I'm talking about a completely managed company like RackSpace or ServInt. If you went with a company like this, then there wouldn't be a problem.