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I've never heard anyone even suggest they were the cheapest. I've heard of a lot other adjectives, though.
Agreed, also how would you mix in the cost of failure with each of those providers? (just out of curiosity)

Amazom is fairly cheap and is popular so you have lots of support dev-wise from communities.

What about features? Do other providers support something like AMIs, etc?

The comparison doesn't include examples using Amazon's reserve instances - which offer a nice savings.
Would you consider the likes of Linode to be cloud? They basically only offer fixed sized VPS's that are very difficult to scale. E.g. if you want more disk-space you have to pay for an entire VPS.

I think this article is comparing apples and oranges.

Ugh. I hope "Myth Busting" articles aren't the new "Top X Reasons" articles..