Spammers hide behind free vanity email because such email cannot be traced back to a real person. MSN's Hotmail and Live.com, as well as Yahoo, are of the largest providers of free vanity email.
If you use a vanity email address then you have probably had your vanity email blocked at one time or another while these providers attempt to put new filters and blocks on full IP ranges to combat spam. Remember, they are the #1 source of spam to begin with, providing email addresses that spammers can hide behind. Will using their services put YOU in a negative light? Are you willing to gamble with your online reputation to find out?
If you do business with anyone using a vanity email address, you will never really know with whom you are doing business.
Just about everyone on the web has a legitimate email address provided by their ISP (Internet Service Provider). Use it! You don't need to give up your vanity email address, but to avoid blocks, etc, you should consider using a forwarder to direct all such email to a legitimate email address furnished by your ISP. Use a free email service to capture spam, or try http://www.mailinator.com (we are not an affiliate).