Multi-DB on a virtual/shared server to start, or not Multi?

Ok, so here's the back story, I have a domain called freebloggersworld, It hit 4,000 blogs, most of which I think are spam blogs, it is currently running version 1.3.3 of wp-mu. I'm going to be upgrading it very shortly. I am also wanting to put up a second site using wp-mu at politicallygrounded.com, and figured I would go ahead and do the multii-db at set up to prevent future shut down. Freebloggers world was closed down at 4000+ blogs by the way do to database indexing using the resources to much, that is a given right? Any how, in order to go multi-db I was thinking 256 databases, I talked to the host and they said they would recommend if I wanted to use the multi-db that it should only be done on a dedicated server not on shared at all.

This creates a problem in that freebloggersworld due to my not keeping up with it is not making a great deal of money, only about 50 cents to a dollar fifty a day through adsense, and of course being new politicallygrounded will take a few months to get off the ground, I am going to be installing supporter on both and attempting income that way too by the way. With this being said, I can't afford a dedicated account right off the bat, so should I start politicallygrounded with a single database and move over later? And since freebloggersworld is so full of bad blogs should I just shut it down and start over with updated version and supporter with all the plugins installed?