Coming Soon: EC2 Dedicated Hosts
aws.amazon.com
aws.amazon.com
I would guess that the more common use case will be to get more predictable performance by preventing "noisy-neighbor" issues.
Will the next step be AWS supporting non-virtualized instances?
I'm sure Oracle said, "Hey, either price it like this, or you can price it based on the underlying hardware, which is how we do it with VMware".
So at least now it might be feasible for enterprises to run some of these traditionally licensed software packages without either an all you can eat license or blatantly violating the rules.