This allows anybody to send any file to a friend. Man have I been looking for this ever since yousendit began limiting me to 100MB transfers!
One of the cool quirky things it will do for you, is serve youtube files as your files are uploading, so no more boredom!
-Adam
*Edit*
So pipebytes has realized their potential I suppose, and has instituted something called a speed pass. Now while you are still not limited to any file size, (which is a nice break from all of the other file transfer websites) you are still however limited in speed. When I tried to send a file with a friend of mine, the service was almost completely useless, as in order to get anything done within the span of an hour or two, the file size must be quite small, bringing back to light what companies like yousendit.com and others are offering, with increased transfer rates. I suppose if you *had* to send a file larger than ~100mb, and were under no time constraints, it would enable you to get the job done without a FTP or other host.