Echoing some of the other comments... the place i worked at was one of the 5 biggest Rackspace customer, and that didn't stop them from regularly cutting traffi

Echoing some of the other comments... the place i worked at was one of the 5 biggest Rackspace customer, and that didn't stop them from regularly cutting traffic or bringing down servers for hours in some case. You might get better uptime overall from reputable providers, but ultimately it's all about distributed application/service architecture.