The goal: Create tools to help more people to make use of Amazon EC2 Spot Instances!
This is an opportunity to be imaginative and creative, and to show us what you can do. You could focus on the business side and work on price visualization, better ways to determine the optimal prices for bids, or a strategy-based system that uses relative workload priorities to get the most work done at the lowest price.
Or, you could focus on the technical side. You can create tools or libraries to handle long-running processes that might be interrupted, a checkpointing framework, some setup tools, or create an interesting integration with Elastic MapReduce.
The challenge ends in less than 13 days, so you'd best be getting started now! I look forward to seeing what you come up with.