I'm surprised no one has mentioned the best way to select a host.
1) Print off the names of 10,000 web hosts and scatter them on the ground.
2) Get a monkey.
3) Train the monkey to pick up a piece of paper.
4) Lead the monkey to where you've scattered the names of 10,000 web hosts and get him to bring you a piece of paper.
That's your new web host.
Seriously, there are a few things you should look for.
1) Clearly defined ToS.
2) Money-back guarantee with clearly defined terms and conditions.
3) A policy that deals with spammers and scumbags in a zero-tolerance fashion (unless you are a spammer or scumbag, in which case YOU GO TO HELL! YOU GO TO HELL AND YOU DIE! Sorry...that was Mr. Hat talking.)
4) Positive reviews that are well-written (not just "they r grate they host my site and it is gud").
5) Feedback from other webmasters if you can get it ("do you know XXX company"?)
Having said all of that, here's my choice for a good host:
Sectorlink
And now, here's why:
Uptime since July 2003: 100%. Not one SECOND of downtime...even during the North American blackout. And the time that they went down (July 2003) was due to a hard drive failure...that happens.
Support: top-notch. They answer questions, fix my problems, and actually talk to me like a human being and realize that if/when I call, it's a legit issue (I don't just call to *****.)
Services: they have a whole bunch of plans that suited my needs in the short, mid, and long-term as I moved to my dedicated box (which I'm on now with them.)
Stability: they've been around at least 4 years. I know, because that's how long I've been a customer of theirs.
Employees: they actually have some. I know, because there's a Brian and at least 3 Jasons (including the owner). There are others, but I don't know their names. I just know Brian, Jason, Jason, and Jason (and they're all good guys.)
ASP support: lots of cool stuff and add-ons with their hosting plans that I got to learn from (including my personal fave, ASPUpload.)
You choose these guys, you're making a smart choice.
Hope this helps.