So.. are they really offering servers at such low prices and still offer good services? Also, how "unmanaged" are they compared to say, fastservers? Will they help if:

-my server is down
-need apache/kernal/etc. upgrades?

Is there anything I should watch out for?

Thanks.

if your server is down, you can have them reboot it for you. upgrading of apache, php, perl, kernels and etc are up to you the system administrator and user.

If your server is down and requires more then a reboot or manual fsck to fix it - they'll just format and restore OS + CP.