found a cool resource for finding dirt cheap VPS services ( most are like $4.00-$7.00) per month and you can search by the location if you want your server to be located someplace special
http://www.lowendbox.com/
ive tried a handful of them this week, no problems so far with any of the providers yet and all that i tried were almost immediately set up with no wait time
$4 or $7 are not suitable to host your vps using paid traffic, I'm using ramhost, monthly 19.90, unmanaged, running fine.
not for using to host traffic, no.. but great for other uses like remoting in to create accounts 
good one was looking for stuff like that 
even though hourly billing would be better for me (only using it an hour a day)