I use both shared and VPS. Here is my latest experience with VPS: http://forums.digitalpoint.com/showthread.php?t=370307 Do not ever use www.surfspeedy.com, like I did.
I use VPS mainly. I have over 15 VPS across 13 B-class IP & 95 C-class IP addresses. I stopped using shared hosting a while back. It's a bad habit to get used to shared hosting.
I have used both and shared hosting in most cases works well and sometimes does amazingly well. I once launched a movie site with a complete Flash design (640 by 480 window), it was hosted on a shared account and handled 1 million hits when it was announced through MTV's newsletter. VPS had it selling points but we tended to run up against the limits of our slice of the servers resources.
Reseller account and a dedicated server. The main reason i do not cancell the existing reseller account because i am happy with the hosting provider. They help me a lot regarding how to manage a server.
Neither VPS, nor shared.. I'm using reseller package and so far it is enough.. Might have to buy a VPS soon if stumbleupon continues to send me hits like now
Well my thoughts on the whole VPS vs shared debate is if you do not know how to manage a server or are not willing to pay for the fee's needed for your vps to be managed to a degree it may not be for you. Things like updating programs need to be done or eventually it will bite you in the ass.