> Surely you must've noticed that pretty much all of their bare metal offerings ("dedicated" and the stuff on "auction") have multiple disks, allowing for various RAID configurations?

I don't know where to start with this comment. Do I really need to spell out the difference between cloud and bare metal ?

A few examples...

    - Live migration ? Cloud only.
    - Snapshots ? Cloud only.
    - Want to increase disk space ?  Tick box in cloud vs. replace disks (or move to different machine) and re-install/restore in bare metal....
    - Want to increase RAM ? Tick box in cloud vs. shutdown, pull out of rack, install new chips (or move to different machine and re-install/restore)....
    - Want to upgrade to a beefier processor ? Tick box in cloud vs move to a completely different machine and re-install/restore