>that's bad assed though i have no idea what a VPS is.
>its not hosted on my crappy box at home & just spoofs ip's?
>let me know.

Certainly not! The host has the box and you get all the usual advantages of 
whatever infrastructure they have in place (redundancy, generator backup, etc.) 
while having basically a dedicated portion of the server for your own 
use....somewhat like a co-located box. It's rapidly becoming one of the most 
popular types of hosting for people that want more than you can get with shared 
hosting but don't want to spring for the cost of an entire dedicated box. 
Here's a good article covering the pros and cons. 

http://www.sitepoint.com/article/virtual-private-server



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