I'm actually a bit surprised that more people aren't taking Mike up on his offer. He setup the 10 autoblogs, all with his favorite customizations (you know, like category-post linking, turning off email annoyances, adding themes, adsense deluxe, properly setting up the auto plugin, etc).
All of you reading the forums should know that autoblogs were pretty popular for a while, and for all I know it's gotten a lot of people on the right track for the most part (in figuring out what niche would be more beneficial to get into). Currently I'm receiving over 200 uniques per day and I have over 1000 pages indexed in google without doing anything. All I really had to do was edit out what I didn't like in my themes (basically a bit of theme customizing), but thats more of a personal preference on my part (we all differ in opinions of presentation).
I haven't received a single complaint about anything, and why should I? The actual posts are all linking back to the original content writer, they should be happy that they're all getting the extra free publicity. I haven't placed any ads on it since I'm personally using it as a more of a medium for testing other things than a source of income, but I wouldn't rule that out somewhere down the road (again, personal choice).
The service itself, is given as explained, which is a steal, and Mike actually goes the extra mile and helps you with issues that you may be unsure about. It doesn't hurt to have a HostGator account, or an extra one for that matter. With that said, get your domain, sign up through his link to get your hosting account, and get in the game.