Hi!
A Dedicated Server is totally dedicated for you. You share it with no other websites. You have the full hard drive, full use of RAM, full use of the processor. The whole gambit. If you could walk in to the data center where your account is, and look at the actual server, it would be your account only on that server. You have root access.
A VPS is a Virtual Private Server. A VPS simulates having a dedicated server, but you are quiet sharing the server with other websites. You quiet have root access, but the proper hard drive in the server is divided between several websites (clients). The profit of root access is you have better control over your file system.
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