We used BeMo as a hosting service Project Server 2010. Our environment was not ready to support SharePoint 2010 Enterprise at the time precluding us from using our on-premise infrastructure. The setup was smooth and was done in less than a week. We used our licensing for all the software and the BeMo team were instrumental in getting this setup. The connection speed was very good and the security was good. You will need to outline a plan prior to the migration and be sure to communicate your needs for any extras like workflow, BI reports, and any add-ons you may require. This will avoid delays when you start to use the system. We would not have been as successful with our migration without the BeMo service. Joel Lachance and his team are experts at this stuff.