euca2ools 1.1 has been pushed to updates-testing for F12 and Rawhide, so any testing or feedback it can get would be appreciated. There is currently one known issue, a bug with with python-boto 1.9b that currently prevents euca-register from working. I requested a backport for the patch: https://bugzilla.redhat.com/show_bug.cgi?id=561216
