I'm not sure what to think of Amazon's Elastic Compute Cloud just yet. I have read quite a bit on their S3 product and am impressed with the concept and practical uses it can have. Maybe I just haven't read enough on ECC yet, but I'm just not sold.
This article on thier Web Services blog kind of caught my attention. The idea is catering to the millions that have an idea and don't want to invest in infrastructure in order to tell if the product/service works. No investment of their own data center, colo or even hosting provider! To me it still sounds like the ASP model, but I suppose I can see the differences and recognize the maturation of the model.
I'll keep an eye on this one and S3 though as I believe they each have some definite potential.