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I have several dedicated servers. I started with a shared hosting account, then moved to reseller then went to dedicated. I kept outgrowing my space and needed more allowing more CPU usage. In addition to my sites, I host several friends for a little extra funds each month.
I use dedicated as well. There's so much more control than with shared or reseller. Plus there's room to breath. It's also an all around better value and you don't have to share resources.
It surely depends how much traffic you have on your sites.
But usually with just 4 sites you may be doing better with a shared reseller account.
For a medium server you look at aprox. $80 - $200 per month.
Then add security and management of another $50 - $100 per month, thats if you have no idea about server management.
I have a VPS for scalability but I agree dcristo reseller plans have better resources than cheap vps. The vps layer eats a lot of the memory as well. I like the root access for VPS though.