Overall it has been a pleasant experience working with Google Groups.
Rather than set up a server, install the wiki, file share, and listserve myself, and host it on the Internet; I can set up a group there instead. It is pretty convenient. Additionally, their interface is pleasant and search works pretty well (no surprises on that one!).
One decision that I made is that anyone can join the group, there are no restrictions. Additionally, there is no moderation on posts. I hope to encourage a certain atmosphere and culture. Thus far it has worked well.