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It totally depends on what you are planning, whitehat, blackhat, bluehat or whatever silly categories SEO is put in.
The advantages:
- Links FROM your site(s) on all different IPs are a more effective
- Having a unique IP means you can't suffer from any IP penalty other sites may pose on a site (maybe without you even knowing about it). This part is totally overrated, IP penalties are extremely rare.
- Network detection is much harder for bots, although you'd want different nameservers and if you are really paranoid different whois info as well.
The disadvantages:
- Google is more sensitive when finding blackhat stuff on a site with no other domains on it's IP. Your IP won't be penalized, but the site will get kicked faster. Believe it or not, it's a fact.
- It's not foolproof or 100% safe, heavy interlinking will still reveal your network
- Links from many different IPs do not substitute for domain authority and trust, which are much more important, so the advantage is slight.
So, it boils down to a small advantage when building huge networks, but we are talking about dozens if not hundreds of domains to maximize the effect. For 5 or 10 sites, it's pretty useless, since you'll get alot of links from outside your network(s) anyway.
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