How do you know you have high resource usage? Most likely it's just memory related.
cPanel eats a lot of ram, CentOS eats also a lot more than Debian for example, and cPanel only runs on it. I would suggest moving to a control panel with a lower memory footprint. Or no control panel at all, a managed solution.
HostGator's site is down for me, but I believe their VPS is OpenVZ, it's not real full virtualization, you don't have swap either. XEN VPS would work better for your needs.
You could let someone take a look at your MySQL and optimize it. Maybe upgrade to PHP 5.4, it improves memory footprint and is MUCH faster than 5.3. Is it out yet for cPanel, or do they still claim it's 'experimental'?
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