OpenVZ information at CheapVPS
OpenVZ is virtualization software built by SWSoft and community. It is something like free community version of Virtuozzo. Due to lack of some functions Virtuozzo has, it is more like testing suite for new versions of Virtuozzo. Most hosting companies because of that thinks that it isn't enough reliable (although it can be quite powerfull and there are no many bugs and issues). So web hosting companies rather use commercial Virtuozzo software than free OpenVZ.
Similar to Virtozzo, all virtual private servers must runs the same version of kernel since kernel calls in virtual private servers are mapped to host kernel. It has very little overhead (above 5%). It scales good if you have many VPS on one physical computer.
VPS Reviews
VPS Deals