just a reference, http://aws.amazon.com/ec2/instance-types/ describes instance 
types.
c1.xlarge:
  7 GB of memory
  20 EC2 Compute Units (8 virtual cores with 2.5 EC2 Compute Units each)

I have booted an m1.xlarge successfully, which is:
  15 GB memory
  8 EC2 Compute Units (4 virtual cores with 2 EC2 Compute Units each)

-- 
ec2 instance failed boot, no console output
https://bugs.launchpad.net/bugs/527208
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