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Airline ticket costs & checked bag fees

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I haven't paid much attention to ticket costs & checked bag fees until now.

My scenario: Ticket from A to C has a layover at B, and each of the 2 legs is a different airline. Ticket from A to C costs $400. But if I apparently buy tickets A to B and B to C seperately, the total is more like $300. Why? (I'm guessing it's the cost of putting in less work). Are there disadvantages to buying the 2 seperately, such as more hassle at the airport or something?

And what's the checked bag fee situation? Is there only 1 checked bag fee with the larger, more expensive ticket (unlikely since I'm still flying with 2 different airlines), versus 2 different checked bag fees having booked seperately with 2 different airlines (let's assume all the airlines ARE charging a checked bag fee : ) It appears Kayak.com has a nice list of which airline charges how much for everything.

Thank you.

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