The m2.2xlarge is a memory-optimized AWS EC2 instance: 4 vCPU and 34.2 GiB of memory, 8.55 GiB per vCPU. In the name, "m" is the general-purpose line, "2" is the generation and "2xlarge" is the size within the m2 family. It runs on Intel Xeon Family at 2.4 GHz, and AWS introduced it in October 2009. AWS has since shipped m3, m4, m5 and m6i; m3.2xlarge is the direct replacement at this size. The nearest Spot node is mh.vs1.large at 4 vCPU and 32 GiB — the same vCPU count and 2.2 GiB less memory, $0.490/hr on AWS in US East (N. Virginia), from $0.021/hr on Rackspace Spot.
Match qualityNo local disk
m2.2xlarge comes with 1 × 850 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.