I've been very happy with Layered tech and they are inexpensive as long as you are looking for unmanaged.
Have you considered Semi-dedicated Hosting? 4 - 8 accounts per server. Less overhead than VPS, better performance for the price. DopeDomains.com - 15,000 New Domains a day. indexed by Pagerank, backlinks, Hits, and Length.
Defined "cheap" and give us an approximate requirements that you have, otherwise we can't give meaningful recommendations.
I recently picked up a very cheap little server from http://www.lowcostdedi.co.uk/ (the £10/month one) - but if you are planning a massive hosting operation then you don't want one of those!
Setup was very quick (no more than an hour after payment I had an email with the access details) and the machine I have is everything the site states that it would be. I've not got it doing real work yet, so I've not properly tested the network speed/latency but from what I have done I've not noticed any issues.