One gotcha that does worry me though is if I get AWS myself there is only Amazon to worry about. If I get it through you who will Amazon consider to be the owner of the code and data I put on their system, me or you?
That's a great question. For avoidance of doubt I would write up a TOS that ensures no partnership/ownership implied. That is pretty standard stuff. AWS TOS says something similar.
However, if someone's usage violated AWS TOS in terms of content,etc, it would have to be shutdown immediately (standard practice, but even more important with an arm's length financial arrangement like
BTC cloud).
I'm thinking something a bit more like EngineYard (but with generic servers/templates) than just passing through an AWS account.
What would be more compelling?