cocos Live is a service that tries to help iPhone Indie Game Developers by giving them an API to solve their online requirements. cocos Live is a reliable service with good bandwith, since it is hosted in Google App Engine.
cocos Live is a free service. You can host as many games as you want in cocos Live. cocos Live, as it was mentioned before, is hosted in Google App Engine. All the services that are hosted in GAE, like cocos Live, have certain quota-limitations. If one game consumes most of the available quota (probably because it is a very successful game), the owner of the game will be asked if he can help to pay for additional quotas.