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Open Source Developer's Hosting Dilemma, Google Code or DIY - the choice between the three option is a significant one. Each offers certain advantages and disadvantages. To get analytical about this, the below categorization should help:

sf.netGoogle CodeDIY
Content Revenuenone
Adsense and other options
Infrastructure Maintenancenone
High, including concerns of security and redundancy
Ease of Useaverage
Depends on choice of open source tools, feature road-map, community
Marketing exposurevery high
Basically it comes down to a trade off between accepting the overheads (effort, cost and risk) of maintaining own infrastructure and owning your content and users.

If the content is generating sufficient revenue, or shows a growth/maturity pattern that at some point not too far away in future shows it will generate sufficient revenue, to justify maintaining own infrastructure, I guess it makes sense to DIY.