Really, all I've ever wanted is an IaaS provider that gives me VMs in the shape of Heroku's instance partitions: a little bit of guaranteed CPU/memory/IOPS per dollar, with cheap/free low-jitter bandwidth thrown in, made specifically for allowing network-server applications that scale horizontally.
My 64MB-of-memory IO-bound Erlang chat server doesn't need a 4GB instance with eight cores. But it has to take that instance, because that's what you pay for in order to get a good uplink.
That being said, some providers let you tweak everything independently. I know Gandi does [1], there are probably others.
(I don't use them, no idea what their cloud service is worth, I'm just showing the sliders)
1 core, 512MB, 20GB ssd = $19.84/month or $13.89/mo prepay compare to DO at $5/month
4 core, 8GB, 80GB ssd = $124/month or $86.88/mo prepay compare to DO at $80/month
Anywho.. multiple reliable hosting options always good :)