Domain is 3 years old. i like that domain a lot, don't know why tho. So what do you think about the domain name? also, What type of service should i run? Free Webhosting with 100mb space?
Free hosting is tough. Most free hosts disappear after a few months. You could try and sell the domain name on a different site and start with a high bid - you never know! I've heard one story where a guy bought a domain name and sold in immediately for a couple hundred...
I agree with dorg: an hosting site seems the better solution (in my opinion it may also be a paid one, if cheap). Otherwise you might try and sell it