Webhosting or VPS Hosting?

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What do you use to host your website and what are the pros and cons to this?

Just interested in what people have to say

Edited: Title should be
Shared Hosting or VPS Hosting?
 
Shared Hosting
  1. Cheaper, and can have more hardware
  2. Good for starting out
  3. Don't need to be smart to able to run it, little easy
  4. It does make performance lower, depending on the host and if the servers are full

VPS Hosting
  1. Cost more then shared
  2. Options on what you hardware you want, yet does cost
  3. You control the server back-end unless you pay for extra support
  4. More performance as your website
 
When one organization close to me launched its website, they were on a shared package that gave them a headache. There are times that the website was down due to consumed bandwidth and most of the time the access was crawling - this one was debatable between the design and the host provider. Anyway, when the organization went on a solo package, the problems disappeared. But the boss said they had to pay the price of 3 times the cost of the previous shared package. Maybe for a personal website, a shared hosting would be fine to save on cost. But for a commercial website, it is imperative to get the vps.
 
I prefer a VPS as they provide private hosting that helps to keep my data safe online with dedicated server space and also dedicated IP addresses. Moreover there isn't much difference in the price if we compare a VPS with shared hosting. VPS hosting today comes as low as $1 per month.
 
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