Due to the confusion about the rule and the near obsolescence of it, I'm doing away with the "No External Linking Rule".
It did more harm to the forums and the site than good.
Of course, remember the many benefits of submmiting your film to the site including the fast servers and the wonderful review system. (Not to mention a huge already established audience)
Chris, I think that was a wise decision. I don't know of too many SF.com members that would leave the community because of an outside hosting link and personally speaking, if I have something that I would like to share, I can host it on my site - not because I don't want to pay, but because I'm not a student!
In the interest of true discussion and sharing of knowledge and techniques, that was a good call.
Also, I agree with you that any student that doesn't host with SF.com is missing a great deal of positive feedback (even if it's negative!) and benefits of the site.