Of course, a VPS is a much better choice if you can afford it, but I used Dreamhost shared hosting for my affiliate sites for a LONG time. Hell, I still use it with a lot of my SEO sites. I used to run tens of thousands of clicks to it per day and only ever had the one problem: prosper202 wouldn't install properly because of a small glitch that I can't remember now. What I DO remember is that by Googling the error I found a patch on the T202 forums, and so I was able to use Prosper perfectly fine.
Anyways, if anyone wants $97 off a year of web hosting (which is like $119 IIRC so $20 for a year) use the coupon code: hannahisawesome
I used them for a while back in the day. It was only for a personal site, but the overselling + downtime was so ridiculous I had to switch hosts. This was years ago though, but I would not buy hosting from a company that runs their business like that. Just IMO.