There is no problem in using a USB hub but depending on what you connect to it you may be better off with a powered one. It really depends on whether the items you plug in use the power of the USB. The other thing of course is if using the laptop battery how will this effect the battery life.
To be honest with you what I would do is buy a cheap powered one and try it, if everything works ok without the power connection then fine if nor you can always plug it in. Plus I personally would get a USB 2.0 hub as you then have the choice of using it in the USB 1.0 or USB 2.0 ports. Something like this perhaps click here