"An EC2 instance may be launched with a choice of two types of storage for its boot disk or "root device". The first option is a local "instance-store" disk as a root device (originally the only choice). The second option is to use an EBS volume as a root device.
Instance-store volumes are temporary storage, which survive rebooting an EC2 instance, but when the instance is terminated (e.g., by an API call, or due to a failure), this store is lost." (Emphasis mine)
Most choose the EBS type of instance now, because having the OS on a persistent storage device is more convenient for typical server scenarios (as you might imagine).
The only scenario I can see that would require hitting an EBS store often enough to matter would be if you put your database on it. Obviously your OS kernel is going to be in resident memory, so your argument is somewhat of a strawman.
"An EC2 instance may be launched with a choice of two types of storage for its boot disk or "root device". The first option is a local "instance-store" disk as a root device (originally the only choice). The second option is to use an EBS volume as a root device.
Instance-store volumes are temporary storage, which survive rebooting an EC2 instance, but when the instance is terminated (e.g., by an API call, or due to a failure), this store is lost." (Emphasis mine)
Most choose the EBS type of instance now, because having the OS on a persistent storage device is more convenient for typical server scenarios (as you might imagine).
http://en.wikipedia.org/wiki/Amazon_Elastic_Compute_Cloud#Pe...