I've hosted warez sites on a VPS with hostforweb (US based) for over 2 years, regulary getting 60,000+ uniques a month, and only once did they ask me to remove some copyright material which had been reported to them.

Unfortunatly i've had to move hosts now but thats only because my vbulletin license expired and since they now want me to pay $280 for the same software i had for $100 last year, i've decided not to pay and go offshore.

If my license was still valid, i would continue being hosted in US and probably wouldn't run into problems.