Yes uou need to know the truth....
Domain:
Godaddy is only a good daddy for legal site(sure, it will ban if you use warez linking adult blog- already blocked lot of domains)
So namecheap.com, internetbs, name.com are good guys and they won't delete your site or impose anything so choose from above 3 guys..
Hosting:
avoid USA server(onshore), if you hosted there means, sure in one morning(may be with in few days) you account will suspend by the hosting provider
so choose offshore(Netherland, poland, france, hongkong, china.......etc, may be except USA)
Good hosting providers:
KnownSRV.com ---i personnaly recommend him(his admin Krunix is good, sure he will assist you everything)
Knowinservers---> best one, you can also choose this one, they also have good support
If you are ready to compromise with some(very low) downtime and slow loading means prefer shared hosting
If you are not ready to compromise means choose vps...(choose dedi after your site become popular)
If you are not registered your domain means , ask me(pm me) for referral link 
Note:
i also in your stage during my initial stage(some 3 - 4 month back), but members of wj helped me a lot...
post your question in wj, sure some active member will answer your questions..
i have small adult blog -->
porn download
If you need any help or suggestion means, pm me
or
MSN--->
torrfriend@live.com
yahoo-->
torrfriend@yahoo.com
i am mostly in wj chat
Congratz mate.....
http://www.fdcservers.net/virtual_servers.php
It's onshore(USA) - will block you, if your site is warez(copyrighted things) related
if yours is legal means --> softlayer, fdcserver are good
