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Is is best to put all UK content, currently under example.com, under uk.example.com and all US content under example.com.
Also would it be best to have a UK IP address for uk.example.com and US IP address for example.com ?
[edited by: engine at 11:37 am (utc) on June 2, 2009]
[edit reason] Please use example.com [/edit]
If you have 2 sites which are exact duplicates then you will get penalised no matter where they are hosted.
I would always register and host a domain in the country I'm targeting. Search engines do give much more weight to sites hosted in the location being targeted. In the last month I've moved a clients site for the same reason with very positive results so it still holds true in my experience.