What are the pros and cons of DIY templates?

Where can i find information, specifically a list of pros and cons regarding the use of DIY template sites offered by Yahoo, GoDaddy, Network Solutions, Wix, etc?

As for me it has pros because: less expensive than professionally-developed website template, includes hosting. of course it’s great but there a lt of cons: you tied to one hosting company, often that templates are not optimized for search engines, sometimes it looks unprofessional if we speak about design.