I work on the basic assumption that nearly everybody here knows more than I about such things :)
It is vital that content copyright remains with the authors of each post, and does not transfer to the hosting server.
Server space will be required primarily for the future board software. Other than that, the majority of space will be devoted to simple links (albeit many of them) and to member e-mail and personal web space. Animations and high-resolution graphics are not a priority. However, I expect (hope) for the amount of bandwidth required to keep growing -- and so a reasonably large amount of bandwidth (or good value for money) is required here. (It might be nice to add a chessboard or similar option :) )
The hosting server should be reliable.
Advertising should be under our control. The goal is for those affiliate partnerships which merge with the spirit of this site to pay for the software and bandwidth -- and for no other advertising to be visible.
Regardless of degree of success in making the Community a self-sufficient venture, no Community member will ever be required to pay a cent.
Any other questions/conditions/options that should be added?