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Good for new sites
Bluehost has been around for a long time and I have been a happy customer for a few years.
Pros:
1. cPanel
2. Adwords credit (not sure if anyone needs it, though)
3. Good for a bunch of small websites. If you have 15 sites that receive barely any traffic (under 100 visits a day)
Cons:
1. A bit slow if the site grows bigger
2. Renewal pricing is not the same as promotional pricing on signup.
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Disclosure: I am a customer and client of Bluehost we like their service so much that we decided to sign up as an affiliate as well. You should assume that we may receive compensation from the companies whose products we review. As mentioned we are customers and have tested and reviewed the web hosting sites mentioned here. We are independent of Bluehost and independent users and the opinions expressed here are our own.