I am familiar with their name, but don’t have any experience with their product. I sort of wish these sorts of tools could be open sourced (and there are some) so that I could run the management service on my own servers and not hand over my AWS keys. Like I said, I don’t have experience with their product, so maybe I’m making an assumption there.
As I’ve said earlier about AWS, it’s an amazing service, but is very much like a raw material. It’s like having someone hand you the keys to a datacenter, and you don’t even know how to turn on the lights. Ylastic fits into the category of management vendors for AWS, and I think that Amazon’s ultimate success will depend on management vendors who extend the web services to the layperson.