I used to really enjoy going to lowendtalk and reading about the crazy deals. It’s gotten a little worse over time, as the community looked more for lower prices than actual server quality (there are often cases of someone selling VPS accounts out of their home.) Just read the comments on that post; do you really want to dump $48 into a company with a blacklisted IP?
You just have to be careful with these other hosts. Remember that OpenVZ servers are very often oversold, and that you rarely can use all of the memory on them at once. I’ve been on a plan that offered 3GB of memory, but I could only ever use 1GB of memory before serious problem happened.
The other thing to be careful of on that site is just how many re sellers exist. For example, I’d guess that 80-90% of all the Buffalo, NY offerings are in the same data center. Do you want to pay a middle man, or the person who owns the data center?