Underperforming: I don't get why the bigger Rackspace Cloud Servers don't get more CPU cores, just a bigger share of the original 4 cores on the host server. This might look fine but at the end I just want more processes (PHP threads) running at the same time.
Overpriced: The pricing is really high for Cloud Servers. I'm paying around £460 a month for a 16GB RAM Cloud Server (4 cores, 620GB (!) disk). For around €448 I have a Rackspace dedicated server with 48GB RAM, 2 x 6 (modern) cores and a 480GB RAID10 array.
I'm actually switching most of our workload to dedicated hardware, it's less cool but it's just cheaper and faster, in this case.
NB: We tried AWS but the MySQL IO performance, either in EC2+EBS or RDS, was not enough for us.