I know that if you hotlink from pbase (payed account or otherwise, if they still have free acounts) that they are VERY strict about bandwidth regulations. a few people I know have had their galleries temporarily taken down because a forum they post their images on has very very high traffic...just a warning because from what I can tell, tFS has a LOT of lurkers that drive up bandwidth. I think smugmug is the same.
Im not really a huge fan of either, and have not signed up for one. I use deviant art which is really not a great solution, but its -ok- for me for the time being, may not be for you?
if you have an apple, I would suggest using .mac, the storage capactity is high, and its visually more pleasing, users have more options for customizing I believe. plus its not just image hosting, its a virtual hard drive, info and news, a whole network really...comes with email as well.
if you own a pc, I believe msn has something similar.
just remember to read user agreements, I have heard reports of msn 'owning' a person's photographs if they post them on certain sites/in certain programs, but dont know if this is just an internet-bred rumor or truth
let me know if you find any other options because I am still looking for one myself!