As I understand it, each DreamHost plan has a limit of 60 CPU minutes per day. I believe the limit is the same for all shared hosting plans.
I don't think the scenario you present would be too much of a problem. If your site is mostly static, or relies mostly on client side scripting then you will be OK.
Sites that run into the CPU usage restrictions tend to have very high traffic and/or lots of dynamic content created by in-efficient server side scripts.
DreamHost does have a 97 day guarantee, so you could always try them and monitor your sites CPU usage. If things don't work out, you can obtain a refund and try somewhere else (or maybe examine dedicated hosting).
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