Actually, pgreplicator saw its last release in 2001, and I'm not aware of anyone who uses it in production. The fact that it requires PostgreSQL 7.1 (which is ancient, buggy, and unsupported by the Postgres developers) would be a pretty big clue not to use it. The most popular choice for replication (async master-slave) with Postgres is Slony I. Commandprompt's replicator is another choice, although it is a commercial product ($1000 USD per machine).
When you say that "Postgres' performance advantage over MySQL on a VPS doesn't really exist.", I'm not sure what you mean: DBMS performance is a complicated subject, and significant performance differences exist between MySQL and PostgreSQL on essentially ANY hardware platform. For example, if your app uses complex queries with a lot of joins and subselects, Postgres optimizer will likely give you significantly better performance than MySQL's, regardless of whether it happens to be running on a VPS. Similarly, MyISAM's performance with an update-intensive concurrent workload is going to be pretty bad, regardless of the hardware platform.
When you say that "Postgres' performance advantage over MySQL on a VPS doesn't really exist.", I'm not sure what you mean: DBMS performance is a complicated subject, and significant performance differences exist between MySQL and PostgreSQL on essentially ANY hardware platform. For example, if your app uses complex queries with a lot of joins and subselects, Postgres optimizer will likely give you significantly better performance than MySQL's, regardless of whether it happens to be running on a VPS. Similarly, MyISAM's performance with an update-intensive concurrent workload is going to be pretty bad, regardless of the hardware platform.