You certainly would want to look at the pros and cons of each setup and see what is of value to you. I do like that with a VPS, you have more flexibility of your hosting environment, which will allow you to experiment with other scripts or applications.
If you're still unsure about the VPS, maybe it try it out for a month and see if you like it or not. I know a lot of VPS providers are providing first month discounts in the advertising forums.
If you're looking for a cost effective VPS solution, check out cleverkite.com
Solutions Engineer WPEngine - WordPress Hosting, Perfected.