Is Linode 80 for me?

If you're running only a tracker, I would think that a Linode 80 would work. If you're seeding from the Linode, that's a bit less likely (and you can burn up bandwidth in a hurry).

Also, when you're seeding, the I/O limiter becomes a factor when you're using a client to build a seed from an existing torrent - especially in the last 10% or so before completing the seed. If I use an ext2 filesystem instead of ext3, the limiter hasn't choked me yet, but it has come close. If I use ext3, it's a given that the limiter will choke off the system, due to the extra overhead of journaling.

Note that I'm using a Linode 160 rather than an 80.

As for setting up, Linode is geared towards people familiar with Linux, but you can often get questions answered in the forums.