The c1.xlarge pairs 8 vCPU with 7 GiB of RAM, the 0.88 GiB-per-vCPU ratio that marks a compute-optimized instance. In the name, "c" stands for compute, "1" is the generation and "xlarge" is the size within the c1 family. It runs on Intel Xeon Family at 1.8 GHz, and AWS introduced it in May 2008. AWS has since shipped c3, c4, c5 and c6i; c3.xlarge is the direct replacement at this size. ch.vs1.xlarge on Rackspace Spot lines up one-for-one: 8 vCPU and 16 GiB, $0.520/hr on AWS in US East (N. Virginia), from $0.006/hr on Rackspace Spot.
Match qualityNo local disk
c1.xlarge comes with 4 × 420 GB HDD attached to the machine. Rackspace Spot nodes use network storage only, so that disk does not come with it.
If you were using the local disk as fast scratch space — temporary files, a local cache, an index — you will need a persistent volume or object storage instead, and both are slower to read. If it was just extra space you never depended on, nothing changes.