Bluehost is one of the very old providers we have tried. It used to be very good initially and due to some bad experiences with uptime, we had moved to another host. Recently we found that Bluehost has now an India site that will accept payments in INR and hence you don't have to pay any dollar conversion fee.
They have also introduced some new concepts like Dev Cloud and Cloud sites. Cloud Sites boasts of a higher performance than regular shared hosting. Even Reseleller club also sells similar hosting in partnership with bluehost we believe.
Update on 28-08-1026
We had taken the best of Cloud SItes option they have: Business Pro. However, the experience till now was not so great. Looks like it is same old wine in new bottle.
We will continue to try for more time and will provide updates.