AWS Dedicated Instances

Here is the general/high level information on dedicated instances:

http://aws.amazon.com/dedicated-instances/

Dedicated instances look like any other instance in the AWS Console.  You create a dedicated instance using the console and the only two things you need to do:

1. Launch within a VPC (dedicated instances can only run in a VPC).
2. Select the tenancy as 'dedicated'. 

You can move instances between dedicated and 'regular AWS' and 'regular AWS' and dedicated by snapshotting just like you would do with 'regular AWS' instances.

More on the recent price reduction:

http://aws.typepad.com/aws/2013/07/ec2-dedicated-instance-price-reduction.html

AWS dedicated instances

Dedicated Instances are Amazon EC2 instances launched within your Amazon Virtual Private Cloud (Amazon VPC) that run hardware dedicated to a single customer. Dedicated Instances let you take full advantage of the benefits of Amazon VPC and the AWS cloud while isolating your Amazon EC2 compute instances at the hardware level.