Just Host is cheap and allows adult content as long as the content is legal and there are no copyright issues. Their virtual hosting starts at $3.95 and dedicated hosting at $149.
Everything is unlimited, up to 5 domain names are free depending on the package you order.
If you decide to go with this host, use the coupon code
BESTHOST2008 and you'll get another 20% discount ontop of the standard 20% discount.
Not only their fast support is a big +, but also their "Anytime Money Back" garantee. If at any point you decide to leave the host, you will get the remaining money refunded without questions, trouble or giving any reason. The domains you got for free, will stay yours too when you leave.
However, I'm convinced you won't ever make use of the anytime money back garantee; you'll be satisfied by what they offer
Been with these guys for a while, never had any trouble and they still get my trust
The decision is yours in the end though. Goodluck with finding a host that meets your requirements,
Just Host met mine. Even though it's no adult oriented host, they won't make any trouble about it