Why hosting your own OpenID? for me, it’s a way to stay committed to a fully decentralized Web.
phpMyID is very simple standalone, single user, OpenID Identity Provider developed by CJ Niemira. It does not require access to a database as everything is stored in the .php file.
It is absolutely perfect for a personal Web site.
Installation only took me about 30 minutes by following the very detailed installation instructions. My OpenID is http://lebleu.org/openid (I am going to move it to https as soon as Laughin Squid enables SSL on my site).
I already tried my new very own OpenID with SourceForget.net and OpenIdDirectory.com (to add a vote for phpMyID) and it works great. SourceForge.net just recently (May 5) added support for OpenID. If you already have an account with SF, you will bind your OpenID to your existing account by logging in with your OpenID and then logging in again with your existing account name/password. I found that logging with OpenID on SF takes a bit more time than with username/password, but I guess this will improve over time, and it is a minor pain compared to the convenience of having a single registration and sign-on facility that I control 100%.