Yes, it worked! Here's what I found out. I'm surprised these things aren't conceptually explained in more detail anywhere (at least I had a hard time finding it).
* Suppose you use Dreamhost to register a domain, for 9.95/year. What you basically get, in terms of service, is an association between a domain name (www.whatever.com) and a nameserver. You don't get any control over any nameserver for that money. What you pay for is the connection between the domain name and a nameserver (any nameserver). But, luckily, you can control this connection.
* The default setting is Dreamhost's own nameservers. But these are useless on the 9.95/year plan (because you can't control anything). So you can use a free DNS service, such as editdns.net, everydns.net, or zoneedit.com. To change your settings to these servers, so to 'change WHOIS' under 'Registration'. (I recommend Editdns.net: it allows URL redirecting, including 'cloaked' redirecting; I recommend against Zoneedit--many people report problems with their free accounts.)
* These free DNS services provide the following service: they receive incoming requests and direct it to some IP address, this can be a static IP, or a dynamic IP, or a URL. You can configure these things quite easily, and it's all free.
* So this is a nice solution if you already have content on the web somewhere (you could also easily get some free space webcontent, for instance on Googlepages, or Microsoft Office Live). It's the most economical way to go.
Peace out