[web2py] Amazon EC2, How does it... um... how does it work?

[Jason (spot) Brower]

With support for Amazon EC2 I am very curious how EC2 actually works.
So in tradition of python:
"How does it... um... how does it work? "
For example, how does it become elastic whti web2py?  How are
"instances" handles and is it generally more expansive than other
hosting options?
The reason I ask is that I will start getting some very heavy loads on
my servers, I hope, and I know my current system feels very slow.
Apache fcgi on dreamhost private server.
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Best Regards,
Jason