OpenVZ is a great virtualization technology, but easily oversold by greedy providers and thus having much worse reputation than it deserves. We prefer Xen for paravirtualization and linux native KVM for full virtualization.
KVM or VMware, solely because of the complete isolation. Full Xen virtualization would be fine as well, but not para-virtualized.
It's tiring to deal with hosts who recompile kernels without certain modules or can't fix a clock. Having full isolation gives us the freedom to get things working correctly without dealing with the host.
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Honestly, since I generally am rolling out something like a Wordpress or a Django site, my requirements are pretty generic. Because of that, it boils down to the reliability/management of the host itself. There are some providers who offer OpenVZ instances that have better reliability/uptime/performance that some Xen and KVM providers that I have used.
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