I signed up for a reseller account and the provider did not give a dedicated IP for my master reseller domain. (No complaints there as it was not part of the specs before I subscribed.) Subsequently, I used their shared IPs to create my custom nameservers.

My master domain and my parent nameserver (is that what you call it?) NS1.mydomain.com therefore share the same IP.

Is this a common practice/setup? Are there major disadvantages to such a scheme as opposed to obtaining a dedicated IP for my master domain so as to be distinct from my NS1?

I'm not a DNS guru so I'm here asking for tips. Any input would be appreciated.

So, you're basically saying that your DNS and web server run off of the same IP address.

That's fine. They respond on different ports. ;)

Really is no significant difference between having a dedicated/static IP or whatever and a shared IP. It'll still respond the same. :)

If the either HTTP or DNS goes down, the website(s) are offline anyway, so it really doesn't matter much. I don't know if all registrars will allow the same IP for both nameservers. If you will be authoritative DNS to domains off-server or using it as a resolver server like an ISP, it would make more sense to have geographically seperated DNS servers.

It typically is fine unless you are worried about anonymity.

I'm not really concerned that much about anonymity as I do not resell the space.

I was just a little concerned about the technical soundness of my setup. Now I know it is fine.

Thanks for the input, guys. :)