I have found the culprit. When you specify the availability zone especially 1-b it is taking an inordinate amount of time (this may be needed for bandwidth and data transfer savings reasons). But if you are in an emergency where cost is not as much of an issue, then leaving the availability zone with No Preference will spawn an instance in US-East within 4-5 minutes (either from a community ami or your own custom ami). I have tested and confirmed this.