It's true. Dreamhost has real cheap hosting plans at USD0.77 per month. You have to pay for a year, but at USD9.24 with a free domain name, I'm surely not complaining.
The first 777 customers to sign up for service with DreamHost using the promotional code "777" will pay just $0.77 for each month of hosting - for an entire YEAR! That's a $119.40 value - for just $9.24!
I signed up almost immediately when I saw it (I put Daniel Glazman as my referrer because he recommended it first).
On referrals though, it does say this:
Referral credit will not be provided to referers of customers who sign up for this promotional sale.
Anyway, if you do sign up, do put my ID, chuyeow, as the referrer - I suppose referral credit will accrue later when one signs up for other plans, if I read their rewards page correctly.