Well, its good for price, but that's about it. I'm hosted with them now, and I'm tired of the unprofessionalism of the staff, and downtime, and I think alot of the current customers are too.
They oversell their servers, which is why you get so much for so little. So instead of having x amount of people on a server like some hosts, you get x *10 or so, which is ok, aslong as people don't start to use everything that Dreamhost is providing.
If you read their blog.dreamhost.com or dreamhoststatus.com you'll find alot about what people are saying.