YESSS This is awesome news. Linode is my favorite VPS host, and now it's going to be so much more viable for quickly testing things, and also for quick scaling up.
This is doubly good news because Linode instances are well-geared towards CPU work (having 8 cores by default), so if you use a queue-based architecture for background processing, you can now spin up 10 instances to process a bunch of work, and take them down a few hours later when the rush is over.
I especially love the monthly cap, so people who just want a server don't pay unpredictable amounts every month.
Thanks, Linode.