Absolutely. We prefer OpenVZ/HyperVM over VZ and VZPP. We have yet to see an issue. The little things we have questioned on HyperVM have been quickly resolved and support is there. That is one BIG difference, HyperVM developers deal directly with OpenVZ developers so the help and knowledge is available.
This is in comparison to submitting a ticket with SWSOFT. Which most people who have dealt with them know they are a headache.
We highly recommend HyperVM, best response times if you have any help issues over any company we have ever dealt with, they are working on rolling out a windows version. We have yet to have any instabilities on our servers.
....................ALMOST no comment I am guessing you aren't a VPS provider. Otherwise calling something cheap or free with the mindset that it is of "less quality" than VMware is crazy. Undoubtedly you haven't done much research in this area of business and probably shouldn't be commenting against a piece of software you have no experience with and know little about.
VMWare is true virtualization with many issues. For one it is a true resource hog as well. OpenVZ/Xen have grown to be real players in the hosting business due to their flexibility and costs. They aren't picked over Enterprise products usually because they are free. It is because they are just as stable and in some cases provide better support.