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Amazon Digital Text Platform

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There have been several threads about writing as a source of income, for Mills and Boon for example.
With the advent of the e-book, it is now possible to put your work 'out there' for no upfront fees and no risk of a garage full of unsold self-published vanity paperbacks.
Amazon offer a service for self-publishing for the Kindle, whereby they take a commission on any sales you make. I haven't looked into it in that much detail as I'm not an author, but it looks to be no sale no fee. If you are writing for pleasure, surely this is a no-lose proposition? And there is always a chance that your work will go viral, sell a few thousand copies and catch the eye of a powerhouse publisher.
Does anybody have any experiences they would like to share about this Amazon service?
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