Palimax or you other gurus.

Lets say i buy www.greystonesucks.com (http://www.greystonesucks.com) from godaddy.com for example, and wanted to host teamspeak on it. Im ignorant to how i would set it up. Could someone point me in the right direction.

If you have a dedicated Teamspeak host server (unlikely) or a friendly hoster (heard Holdouts.com recommended but never personally used them) you would set the A record for www to the hoster's IP. The reverse lookup would still point to xyz123.hoster.net but nobody really cares about that.

We run Teamspeak on an old laptop of my friends and he just always keeps it on/online and people connect to it. You don't even need to buy a domain.