Newbie saying hi and have Q's concerning hosting

Hi all,

I've been lurking around for a little while and finally decided to join and ask you all a couple of questions. First up, I plan to put up a TGP and am currently looking for a hosting provider. Now before you kindly bombard me with links and services I wanted to know what are the differences between using a hosting company in the states (where a lot of the big ones are) and using a European company?

I have looked at plans and prices and a lot of the US ones come out on top. But I'm guessing that using a European hosting service you probably have less laws and restrictions governing adult sites- not that I plan to do anything "dodgy" or illegal. Just thinking about the future, as I have original content which I will later use for a member site.

So, US or European? And why?

Also, since it will be my first foray into this kind of venture, should I start with virtual and later upgrade to dedicated when traffic and business increases?

Your comments and suggestions will be greatly appreciated!

Thanks from a newbie