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To be safe, if your going after the same term then by all means use seperate ips, or even say a batch of 4-5 virtuals for the 10 domains.
BUT in all honesty shared IP's are NOT penalized, more like what happens on that shared IP, more like the who and what, not the where.
Many will post that im wrong and that seperate ips is a must, like i said..to be safe use it, but its not just using the virtuals that get you busted, its creating a network all on one ip.
Build unique sites, with unique content and it wont matter if you have 10 sites relative to it on an ip (see blogger for confirmation of this fact). Just make sure its not the same network, and that doesnt just include cross linking them, but also the individual links to each site. (ie 20 dif sites linking to each of your 10 domains)
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