If i am going to be using WAMP on our VDS, do i still need the hosting package we purchased, it's still currently in the 2 day trial period. Can I cancel this and still host from our VDS?
That's up to you. Our webhosting would still work well for things like fast map downloads, that you might want to have unlimited data transfer, and it's also very easy to use, but it's optional.
And how does the hosting impact our monthy bandwidth? Since the hosting package permited unlimited bandwidth but the VDS is limited to 1000 GB / month?
Simple stats generation shouldn't even make a blip for you