Darcy, welcome to the forums!
As a longtime customer, I have seen TCH upgrade their servers in several ways. They've added more RAM, even upgraded complete machines with RAID1 redundant disk. Recently, they added more diskspace and bandwidth to virtual accounts, and are in the process of adding the same to the reseller accounts. They have also brought in Fantastico and are in process of rolling out Ruby on Rails.
Personally, I wouldn't call TCH a "budget host" (although their prices are certainly low for everything you get - including some of the best support you'll find in the webhosting industry). TCH outshines many hosts who are even more expensive. Good luck on your search for another host, however I think you'll find that TCH would be the perfect place to call home.