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Originally Posted by 8 Characters
Same IP? Useless if it is... 
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Site originality and backlink uniqueness means alot more then unique c-class ips.
A domain hosted on a virtual server that has unique links to it and in itself is an original site will not see any penalties for being on a shared ip. Atleast not for sharing the ip in the first place.
Befor you tell me im wrong take a look at some of the sites on blogspot.com. Tens of thousands of sites all on the same ip, and im sure your link would look great on almost any of them.