I would not use a vps unless you are only planning on using a closed system. Where you decide who joins because your hdd space can fill up very quickly.
I have had the script for only 2 months and have already used 1200GB of HDD space.
I have a Dell R200 quad core not doing anything here in the datacenter i could rent to you for a dedicated. Hit me up at erichamby.com and ill see what i got for you or we can talk about the r200.