I would avoid any web host that advertises large amounts of disk space or bandwidth, when you know it's impossible for them to deliver. It's usually a very poor business move for the host, and usually attracts ignorant customers (I don't mean that offensively).
There exists no "unlimited" or "limitless" hard drive, therefore, there can be no service that can truly offer unlimited space. There is also not unlimited bandwidth, since even the monthly bandwidth from widest pipe is based on the speed of the connection (which for most web hosts is 100Mbps).
I have never known any unlimited web host that lived long AND offered quality service. They all either realize it's an impossible to manage business plan and shut down, or their quality of service drops to nothing because they cannot effectively manage the distribution of clients on their servers.
Even if Limitless (and others like them) have god-like administrators and support representatives and manages to provide a quality service, that service can only be enjoyed by those that use small amounts of disk space and bandwidth. Large accounts will naturally be booted. See, once your web site grows to the point where you would be using 5GB+ (not as file storage or as a download server mind you), you have already most likely grown out of the capabilities of a shared server (you would be using too much CPU or memory while serving the files to your visitors).
Limitless sounds like a good company, and they addressed my concerns I mentioned on their site (which is great, because many unlimited hosts rely on consumer ignorance to suck customers in). I'm sure they have the best intentions to provide quality service, but this web hosting business model has never worked out for the customer in the past.
It's more wise (economically, and for better QoS) to pay less for a small, limited account at a host that does not practice reckless overselling, and then upgrade as needed. Jumping the gun on web hosting is how web hosts get money out of you. Most web hosts allow you to upgrade at any time, so take advantage of this. Buy small and upgrade when needed. You will save a lot of money and headaches in the future.