I just started a thread on this under general green living, called "vermi-compost enthusiasts", but of course a newbie is welcome too (heck, I'm a newb, just an enthusiastic one!)
They are not that difficult to run and it's a lot of fun. You can make the bin yourself out of a rubbermaid tub or buy something fancier (you can see my vermi chalet in my blog, in sig). Plus the worm castings are superior to regular compost.
If your hubby is not so sure about it, why not set a smaller system up outside while the weather is warm and see how he likes it? We have ours in our basement. It doesn't smell bad at all, fwiw. You might get some flies though, honestly.