I didn't realize this had an actual term. I've smart-hosted using postfix, direct for incoming and gmail/sendgrid/mandrill (before it was neutered by mail chim

I didn't realize this had an actual term. I've smart-hosted using postfix, direct for incoming and gmail/sendgrid/mandrill (before it was neutered by mail chimp) for outgoing. It was fairly cost effective - generous free tier (upto 12k emails) for outgoing, and a small vps to host postfix (~$5/month).