The primary disadvantage to using a VPS is its lack of performance. The organization that provides the VPS will typically throttle the server's performance in an effort to maximize the number of VPSs that the physical server is able to accommodate. In the unlikely event that the VPS's performance is not throttled, it then becomes possible for an adjacent VPS to consume excessive resources, to the point of impacting the VPS's performance.
Alrighty than, wait to see if they'll be adding support for smartnofes. In case they don't have plans to include SMART soon, than since you're good with computers I suggest you rent a managed VPS and just dive in it. Once you get the hang of it, it's not hard. But if you will use it only for your smartnofe, than turn off any other service to minimize the attack surface (like apache, mail and other servers you won't need).
To break things down a bit, cloud VPS (Virtual Private Server) hosting is when a web hosting provider takes one massive server and partitions it up so that it can have several servers on it, each of which can run its own operating system and can be re-booted independently.  Sounds simple enough.  So what is the difference between managed VPS and unmanaged VPS?
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If you'd like to run a VPS, I'd suggest you to look for a managed one with cPanel. cPanel is a piece of software that facilitates a lot configuring the server, while managed means that the support guys will help you with initial configuration of the server, and also help you out with config/upgrades whenever you need help. It's a bit more expensive than non-managed, but if you don't know how to manage/administer a server, than it's essential. You can find a decent managed VPS in USA from 20 $ and up.

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