Actually the main reason for getting a dedicated server besides space is the fact your site will use large amounts of CPU cycles. This is by far the most valued resource in hosting. Bandwidth is easy but CPU cycles are expensive. You'll see large sites with a lot of CPU intensive work on dedicated servers. Anything with a lot of searching and big databases will need to be on a dedicated server. Most people actually get kicked off their shared hosting plan for taking up too much CPU time rather than for the bandwidth usage.
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