On the basis of step by step analysis done above, let me conclude this review in following lines :-
Bluehost is a decent web host providing all essential features and sufficient resources.
But, its speed and uptime record is not very impressive and could be a lot better.
It is still a good choice for new and small website owners.
Dreamhost is clearly better than Bluehost in overall hosting quality.
Dreamhost is a bit expensive for beginners, but quality of its speed, uptime, support, security system, premium features etc. is excellent.
So, if you are serious about your business than it is wiser to spend extra $2-3 per month for superior quality of dreamhost’s web hosting service.