For those complaining about it being 'overpriced', remember they're a big boy provider. It's not ran by a single teenager living at home (no offense to teenagers living at home charging $2/mo for 1GB of RAM). They charge a reasonable amount to pay employees, I suspect, a reasonable living grown-man wage. And provide services at a cost that supports their future growth too.
The fact is most these lowend hosts (not all) that offer a ton of resources for next to nothing is doable because they're small 'companies' that don't need to support more than one or two people. Obviously there are exceptions to every rule, but you get where I'm going with this... I never liked when people said some host was too expensive. You're paying for more than just the quality of the host. You're paying for the assurance they're going to be there tomorrow and paying for the (hopeful) skillset that they can fix stuff when/if it goes wrong.
Sorry for the rant, I just don't like people saying, "Oh, its too expensive". There is a HUGE market of folks who would never touch a cheap VPS because they believe their website, project, or whatever is too great to be using some cheap VPS from a relatively unknown provider. They'd rather pay extra for the notion that more money = better service. A generic cookie and a name brand cookie may look alike and taste alike, but I guarantee you that there are probably more buying the namebrand cookie just because of the notion that it cost more so it must be better. Doesn't matter if they use the same ingredients.