Creating your own tiles
Creating your own tiles is a great way to use OpenStreetMap data. In fact it helps the project if more people do this, since it is a great way to demonstrate the flexibility of OpenStreetMap (you can create your own map style, and render your certain tags more prominently) and it means less load on our tile serving infrastructure.
If you want to generate your OSM tiles using Mapnik and generate_tiles.py in a "one shot, no updates" fashion, see also osmtilemaker. The main advantage of this approach is that nothing needs to run on the webserver - it just needs a directory of image files. So, for example, you can install all the software on your home PC, and transfer the tiles to your webhost when you're finished.