So, just trying to prove the point that yes, 64MB is more than enough to host 18 static sites (on Debian Lenny), I decided to add a Link-1 Xen to my account and document the process. More here
So how do we conclude? 64MB is more than enough to serve a few low traffic static websites. You can actually run a few WordPress sites with a few hundred visitors a day — at the price equivalent to many heavily oversold shared hosting and you get root access!
One thing about root access though — in all my examples above I used root account and never bothered to use a normal user account. It is bad from security aspect so don’t do it. Or at least don’t tell anyone that you use nothing but root