Just moved my hosting from several years on a reseller account to DigitalOcean. Lots of things have changed in the last few years with regards to hosting. I did look at Amazon EC2 for a while, which is really flexible and you have a bewildering amount of options. The ability to link separate instances for images, database and website seems ideal for building modular services, although when I started reviewing how much it was going to cost, it ended up looking like a lot of extra work setting up for the same as what I was paying for already.
So in come DigitalOcean, which is only $5 per month and you can instantly (55 seconds is what they advertise) set-up a fully working WordPress site (they offer other applications like Drupal and Magento, or of course you can set-up whatever you like).
It really is the quickest, simplest and cheapest option I’ve seen so far for your basic blog – I still use other hosting services for testing other things.
If you want to try it out you can get $10 credit by following this link and signing up, which gives you 2 months to make up your mind if you want to continue using it or not.