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I presume they will add storage optimized instances with local disks in the future?

I guess so.

Last time we spec-ed up an ElasticSearch cluster the SSD EBS didn't exist yet, so on-board SSDs was an obvious win.

I should revisit it again some time.

SSD instance storage will always be significantly faster than EBS storage, even if SSD-backed. I'm disappointed that Amazon dropped it from their C4 offering.

For Elasticsearch, we use R3 (memory-optimized) instances which still have SSD instance storage. And boy is it ever fast.

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