I host my sites on with Pair, and I've been extremely happy with their service. I don't think I've had a single second of down time that was due to them (due to my computers… months, but never them). They also provide me with statistics, which I looked at last night for the first time in a while. I have a 400MB per month quota on my disk usage and I'm already at 430MB, and it looks like I'm over my 500MB quote for bandwidth, too.
I have a theory, I think that one of the reasons for the high load is the large amount of blogs that use feeds directly from the site. If we use a feed aggregator, like newsisfree.com then that load should go down signifcantly, so instead of everyone hitting your site, they hit another site, and that site hits your site once an hour.