smokim did you find amazon servers profitable at all. I find they are very pricey at $0.75/hr+
I was using the 32 core servers the cc2 ones not the c3 servers.
So its alittle cheaper especially when using Ubuntu HVM AMI i got it at around 0.27 at first then it went up to 0.35 then finally steady for weeks at 0.45.
Well I did find it profitable I think I spent around 300$ and made almost 900 MMC. But I wasn't doing this for a short term profit. I usually hold on to my coins for a while.
It worked well before, PTS I mined on amazon but dirt cheap around 10 cents/hour for a 32 core server I had 60 of them running for half a day. I spent 115$ but used a 100$ free credit so a total cost of 15$
I made 100 PTS. At the time they were worth around 3$ I held onto to them and cashed out at 25$. Took some and invested into MMC and some to my pocket and the rest I invested into WDC.
If your looking for short term profits then amazon ec2 might not be profitable unless a coin is worth more than a few cents. If your looking for a long term investment than amazon ec2 are worth it.
A 32 core server (cc2) gets you 10HPM.