Don't go with Hostgator. Chances are with the number of users visiting your site, you will need much more than a puny 700MB RAM. Is your current VPS managed?
Do you require cPanel and managed services? If you can drop both, you would save a tidy sum and can pick up a VPS with the same if not more resources for half the price you are paying...double that to the price you are paying and you'd get a pretty beefy one.
My suggestion to most people is: paying a provider to manage your VPS when you only maybe raise one or two tickets a month which takes 10 minutes to solve is not really economical. It is cheaper to just hire a freelancer to solve issues as and when...
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