The OpenVZ project today released pre-built Debian 3.1 (Sarge) Virtual Private Server (VPS) templates.
Read about it at LX'er
OpenVZ is an operating system level server virtualization software technology, built on Linux, that creates isolated, secure virtual private servers on a single physical server — enabling greater server utilization and superior availability with fewer performance penalties. The virtual servers perform and execute like independent servers with their own memory, configuration files, users and applications. Each can be re-booted independently.