Advertising: They have an ad that is displayed once a day it looks like this: http://members.lycos.co.uk/able2know/golf.htm
Re lycos policies they are pretty much the same as any free host, no porn, no warez, no hacking talk etc. Make sure to read their terms of service as I do not represent them nor their policies.
Note that I'd said that tripod lycos UK does not enforce size limits for databases srtictly. As long as you don't abuse it you can grow large. But if you want a ball park figure for 50 MB I'd say about 40,000 posts (this can vary greatly).
The downside of a free host is the downtime. Lycos frequently has downtime but a free host with php and a DB is very rare.
BTW, if you are interested in creating your project in affiliation with these boards please PM me.