While it does have quite a few files on their server, a lot of them are malicious in some way, and even has some illegal content. I use 4 shared, where it scans the file and gives you the results before you download.
In spite of good things available at this site, it is still engaged in spreading the viruses... For example, microsoft: Backdoor:Win32/IRCbot.FN
rapidshare.com - This domain was once infected by the Zeus bot or it was a Zeus bot infector. It was listed at the Zeus tracker site. It has since been removed from that list, either because it was cleaned or because the domain was suspended.
Claims to be anti-waiting, but otherwise. Slow D/L times, overloaded servers, sometimes only partial/corrupt downloads, sucky waiting times and bandwidth limits, ads and malware-infected downloads. For a good filehoster, try Mediafire. Rapidshare sucks. Enough said.