OK, I think this has been solved... Let's sum up what happened so that we don't leave the spectators on the forums with suspense
Drewmvshs first asked sales questions over the weekend (Friday, Feb 3), where he received partial answers. Then on Feb 6 he created the first account. Unfortunately the automatic Fraud Monitor at DreamHost blocked the approval of the account, kicking in the manual check. The manual confirmation at DreamHost usually takes 24h, and is not available over weekends and holidays.
One day later, on Feb 7 a colleague from DreamHost anti-Fraud team approved Drewmvshs account (which required creating a new account). Finally the issue was resolved, the account approved immediately.
So the main wait time in this case was for the presales questions asked over the weekend, while the account approval issue was solved between Feb 6 and 7.
The manual approval of accounts slows everybody down but the amount of fake credit cards circulating is incredible and unfortunately there aren't many way around having to wait a few hours before completing registration. DreamHost team constantly improves the fraud detection mechanism to minimize false positives and tries to process manual account approvals within 24 hours, but at times it may take a bit more due to volumes (and not counting weekends/holidays).
I hope that from now on your experience with DreamHost is smooth. If you have general questions, feel free to ask here.