I never personally really never liked BlueVM - but as of lately they've improved quite a bit. Reply times are faster, uptime is a lot more better & quality of service is excellent for the pricing.
ColoCrossing - Atlanta (response times) [BlueVM OVZ VPS]
AU (Sydney): Average = 221ms
EU (Netherlands): Average = 121ms
UK (Hampshire): Average = 136ms
EU (Lithuania): Average = 147ms
EU (Italy): Average = 128ms
US (Atlanta): Average = 4ms
US (Ohio): Average = 41ms
US (NYC): Average = 14ms
AS (Singapore): Average = 242 ms
HDD performance
Pretty standard. 93MB/s on a smaller file. 173MB/s on a larger, 1.1GB file. Excellent HDD speed.
CPU performance
CPU performance is great, no overselling & spot-on.
Overselling
I had seen some overselling before (5 months ago) and it appears they've sorted their things out now. CPU tests don't indicate any overselling, ram looks fine & I/O is spot on.
Final notations
Whilst BlueVM have a long path to go, they've improved by quite a considerable amount. CPU is excellent, network is spot on (regardless that its ColoCrossing) & I/O is perfect for a HDD setup. I still wouldn't deploy any production services on BlueVM; but its an excellent "bang for buck" provider.