Stay away from MT - the grid is slow even for simple apps, and they go down on a regular basis. Have also had bad experience with Dreamhost. I recently signed

Stay away from MT - the grid is slow even for simple apps, and they go down on a regular basis. Have also had bad experience with Dreamhost. I recently signed up w/Joyent and am happy with it so far, have also heard good things about SoftLayer, ServerBeach, RackSpace, Layered Tech...some of the other names you hear thrown around on here. EC2 is probably a better option once you've been around for awhile and that economy of scale starts working in your favor.