I will have to agree with James, it depends on your requirements as to what degree of involvement you want from your web hosting and yourself in dealing with the hosting issues. No matter it is a shared hosting, VPS or dedicated server, all have their pros and cons depending on individual needs.
The shared hosting market is in cut throat bargaining for a long time now with offers coming close to impossible for even a dedicated servers to handle (i.e. 1TB web space with multiple TB bandwidth for less than $10). It is no more talking about offering a reliable or stable hosting, just how many new signup you can get to offset the marketing cost, that is why we are hearing complaints here and there about accounts being suspended for no reason or exceed CPU usage etc., bulk web host still need to balance the cost of running the servers and with that low rate, shared servers are packed with accounts and the only way the host can do to keep the server responding to requests is either put it black and white in the TOS not allowing big files, scripts etc. or put in a clause that it is in their full right to suspend accounts when they feel the account is taking too much of the CPUs.
Managing a dedicated server can be time consuming and require higher technical knowledge (believe me, checking and applying the updates for the software installed, security patches, troubleshooting mail server, house keeping etc. can take quite a lot of your time from your daily work), cheaper rate servers are usually with an empty DIY box and you are pretty much on your own, there are general a list of chargeable items if you require service from the provider. Good managed hosting are mostly on the higher price tag, and that really depends on your budget if it is feasible to go for a fully managed hosting (there are partial manage hosting as well, which list certain items as chargeable). However, when your website grow to a stage where it requires a dedicated environment, it is natural for you to shop for one that fits you.
IMHO, if you need certain degree of personalized service, a small / medium host with realistic offer may be a good choice for you, since at the starting stage, you'll need a web host that understand your problems and can work together with you while you focus on building your website to a success.
Cheers