I suggest moving to a VPS -- vBulletin can be server intensive for those websites that just suck. The host you have sounds like they oversell as well but also the fact that you have modifications can kill it as well -- they end up adding more sql quiries per page load.
If you are using vbShout on a shared hosting plan, or any shoutbox for that matter, I suggest you dump it if you plan on sticking with a shared hosting plan.
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