DreamHost is pretty much the most honest host in the entire hosting business spectrum. They have long been unafraid of making their service disasters known to the public at the DreamHost Status blog. They have openly admitted their errors and failures as a host more than all the other hosts combined.
There have been major down times and performance issues haunting an entire cluster of servers and the blog flooded with hundreds of angry comments from the users, yet they have kept doing so to let us know. Because we as paying customers deserve to know.
They may not be the most reliable host in the world, but can you find a better one at less than $10 a month budget?