Heroku is still in Beta and it's free for now. They haven't announced
their pricing yet, but supposedly it will be modeled after utility
companies, you pay as you use more resources (i.e. metered resources).

I have no idea about their limits.

You need to request for a blessing (go to Settings -> Other) and once
granted, you can use a custom domain. Blessing will only be given to
apps that have significant functionality already.

Here's a link to Adam Wiggins' post on pricing and release date
questions:

http://groups.google.com/group/heroku/browse_frm/thread/2aa39e00837ef131/118c18f87fc7162d
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