GoDaddy's new 4GH (Fourth-Generation Hosting) is much better than their old Shared hosing plans, which had been total rubbish (if you had ever used their old shared hosting you would definitely know this).
However, now with 4GH, GoDaddy has built a more flexible hosting platform that is performance based, so when your site's traffic spikes, 4GH can respond and allocate more resources to it, so it stays up and running, which wasn't the case with the old shared hosting plans. Compared with Shared Hosting, 4GH has better availability and scalability when your site gets more traffic.
Here are a list of the following web technologies that GoDaddy 4GH Supports currently:
•ASP .NET (1.1, 2.0, 3, 3.5, and 4.0)
•ASP .NET AJAX
•PHP 4 and 5
•Perl w/ FASTCGI
The following are not currently supported, but may be supported in a future release:
•Ruby on Rails
You can actually start using the Godaddy 4GH web hosting basic plan for only $1.99/mo, which is incredibly cheap.
For more details on GoDaddy's 4th Generatraion Web Hosting Plans, click here.