Peng: 1.) Heh, I suspect he would use it to torrent, and imo dedicated servers are more bang for the buck. - 2.) Yes, you're right. I only use scp, and I never remember what is what of ftps and sftp. ;-)
latenite: I do it because I don't want my boss to see what I'm doing.
The RPS1 from OVH are actually pretty good if you only need a simple proxy and some other stuff.
I use it as a proxy, irssi, some times torrent (it's slow), backup for my config-files, DNS/ping surfing and so on.
And yeah, a friend borrows it as a IRC server. Runs pretty well with 150-200 users.