Shared hosting or cheap VPS?

[Firefox Wins]

Personally, after knowing how to set up and use a VPS, I wouldn't go back to shared hosting.
^^^
This. shared hosting cannot compare once you know better.

You probably already know:
Low-end VPS requires some luck, since OpenVZ does not guarantee other uses can be stopped from abusing the server. In other words, you might not get a responsive (blazing fast) share of the CPU all the time.