I have used Invision power board (free version) for years with no problems. very easy to set up and customise, and looks great. The best board I have ever run has to be vBulliten ( as used here i believe) for useablilty, looks, number of hacks (quick reply etc), but it costs a fortune for the licence
As for hosting, I use www.web-mania.co.uk - 20 quid a year with mysql/perl/php/12gig traffic etc etc, reliable and fast with ssh access