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I think it all depends on your level of server knowledge and how many people you have working for you, and their knowledge. If you can manage the server yourself and provide 24/7/365 support then a dedi server would probably be best.
If you don't have the experience to help your clients with their time sensitive problems or have the staffing to deal with these problems, then a reseller account would be the best fit.
Really it breaks down to how much control you need and how much you can handle? The up side of a dedi server is the large amount of space and bandwidth you get for the price of the server. But if you can't mange or provide the customer support yourself the price can sky rocket. Yes, a reseller account may not have the true space and bandwidth of a dedi, but the price of 4 reseller accounts will probably be less than all the other fess.
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