dstiles - 8:49 pm on Jan 24, 2012 (gmt 0)
I haven't seen that idea used for several years; it used to be used a lot for el-cheapo domain registrations.
I have one web site remaining that really uses iFrames and there is no problem with it. The only proviso is: if it's an ecommerce site and you list it in Base (ex-froogle) then a click on any product MUST show all relevant frames of the site. Tricky but possible.
The only other problem with iFrames is if the visitor has them turned off in the browser or firewall (eg Firefox + NoScript). In that case they may get strange results from the site. As might a few mobile devices.