I run wordpress sites. I don't sell links or anything. I don't trade links either even amongst my sites.
To me, The benefits of running 1-2 sites per dedicated server
Pros
1. Good for SEO (google loves speed)
2. Plenty of room to grow traffic without downtime.
3. If one sites receives "PENALTY" from google, it doesn't spread to your other domains. (yes, "PENALTY" even though I did no link buying/link trading. You can never be safe from google)
4. Easy to setup new accounts
Cons
1. Expensive
2. If one site goes down, so do the others
3. Theres a chance if google penalizes one of your sites, that others will be affected.
4. Once you start getting 10k hits using wordpress, your shared hosting account gets suspended thus resulting in downtime.
Thats how I see it with dedicated servers vs non dedicated
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