Multiple Sites, Multiple IPs, 1 server

So I heard it is really good to spread your blogs out over multiple IPs. I have a dedicated server currently with one IP.

I am no where near capacity with it, only hosting 10 blogs off of it.

Now would it work if I just order additional IPs for my server, and edit the httpd.conf file to setup virtual servers with different IPs to listen on for additional domains?

I figured I would order 10 IP's and host 10 blogs per IP off the same server.

Or is this a no-no?

I would like to know this as well, I just purchased a vps with a few extra ips. My guess is you don't want the sites to interlink too much because the ips are probably all of the same c class, but I'm not sure.

This should be mostly an issue regarding cross-linking.
Blog a will not add much to the google pagerank of Blog b if it's in same Class-C and linking it

But both can gain a good rank by backlinks from sites outside of that ip range.

checkout http://theseohosting.com for low cost multiple c class IPs.