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I think its usefull, but not as much in webhosting.
Im thinking more in the terms of "Software as a service", application hosting solutions and general IT infrastructure. It have taken a good step closer with the latest Windows Server OS series.
When it comes to standard simple hosting, its not really where the strength is if you ask me. But as a IT infrastructure I really love it.
Maybe when the SSD's become fast and cheap enough, it would be profitable to start building huge clusters for virtualization, and stop worring about webserver crashes
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