Calpop is probably the best value in LA for hosting, you can check the ping times yourself. I've been there for 2+ years and never had an outage. They guarantee 100% uptime (not 99.9%) right in the contract, in writing, so it's hard to imagine they are really doing anything less. Also all contracts are month to month from what I understand, so if they were really terrible I don't think many people would stay with them.
If you can find a provider offering a comparable network speed with the same providers and the same about of bandwidth (they give you at least 10Mbps UNMETERED included with everything) for less I'd be very surprised.
They have also been around a long time, I know some who has been there for 7 years in the same location, so they are probably not going to fold as several other companies downtown have lately.
Pros: Best network in LA, good support
Cons: What are the drawbacks?