Core concept
Performance modes: General Purpose (default) or Max I/O (higher latency). Throughput: Bursting (default), Provisioned, Elastic.
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How it works
Latency higher than EBS (network hop). Expensive vs EBS ($0.30/GB vs $0.08). Not for high-IOPS DB workloads.
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Trade-offs + gotchas
Shared config across instances. WordPress + CMS. Home directories. ML training data mount. Container registries (small).