Kimsufi's problem is the lack of redundancy, if the single drive on a box dies then you're not going to see your data again.
However, given the low price you could rent them in pairs and replicate the data using something like DRBD. Depending on your comfort level, this can be a very viable and cost effective option, or a system administration nightmare. If it's the latter, then definitely look into an object storage solution if your applications are compatible with that.
By the way, I've written an ebook which tries to help people make sense of the various hosting options available on the market today, perhaps it can be useful to you. The book site is